Man City sets record with £715 million revenue amid financial challenges
Manchester City has announced a record-breaking revenue of £715 million ($903 million) for the 2022/23 season, marking the highest ever for a Premier League club. This milestone reflects the financial impact of their unprecedented fourth consecutive Premier League title.
The club’s annual revenue rose from £712.8 million in the previous year to this new record for the year ending June 30. However, profits fell slightly to £73.8 million, down from £80.4 million during their treble-winning campaign in 2021/22.
The slight dip in profits was attributed to a drop in broadcast income, following Pep Guardiola’s side failing to replicate their Champions League success of 2023. Despite this, City has continued to invest heavily, including a £300 million expansion of the Etihad Stadium’s north stand.
City Chairman Khaldoon Al Mubarak highlighted the club’s commitment to innovation and growth in the annual report:
“Our constant ambition to target and achieve the unprecedented is a mark of the organisation that we have become. On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning.”
READ ALSO: Man City destroys Sparta Prague 5-0 in Champions League clash
He added that the club’s focus remains on evolving further and creating value across all aspects of its operations.
Despite their financial achievements, City is grappling with a difficult period on the pitch. They face Manchester United on Sunday after a shocking slump of one win in their last 10 games across all competitions. The team also risks failing to progress to the Champions League Round of 16 and currently sits eight points behind Premier League leaders Liverpool.
Additionally, City is awaiting the outcome of 115 charges of alleged financial rule breaches brought by the Premier League. The club has strongly denied these allegations but could face severe sanctions, including a points deduction or relegation, if found guilty.
Follow the Neptune Prime channel on WhatsApp: https://whatsapp.com/channel/0029Va74ZvU2v1IqKByXoX3d
Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com
