Manchester City Announce Revenues Of $656M

Rex Christensen
September 14, 2018

Manchester City have become only the second English club in history to surpass £500 million in annual revenues.

City are now the fifth club in Europe to hit revenues of half a billion pounds, along with Real Madrid, Barcelona, Bayern Munich and United, who are due to release their latest figures this month.

In a statement setting out the main elements of City's 10-year transformation under the Abu Dhabi ownership - including Guardiola and his team, six clubs around the world, an extensive youth development system and investment in east Manchester - the chairman, Khaldoon al-Mubarak, highlighted the club's financial stability.

City, whose 2016-17 revenue stood at £473.4m ($620.5m), have become only the second English club to break the £500m barrier after Manchester United in 2016 - a feat their neighbours repeated past year by bringing in £581.2m ($762m).

Reflecting that making a profit four years in a row "may well have been rejected as fanciful by some commentators" years ago, Mubarak said: "We have not diverted in any way from our strategy for on-field success within a commercially and financially sustainable organisation".

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Chief executive Ferran Soriano said he was "proud of our performances and of the trophies won", adding that the 2017-2018 season in which the team was crowned EPL champions was a "remarkable campaign". "We will always strive for more".

The Club enters its fourth consecutive year as a profitable business, posting a profit of £10 million.

Matchday and other commercial activities increased by more than £4m each while payroll costs fell by £4.5m despite an increase in employees by more than a third.

He said: 'City wanted me. "That is the reality today as revenues once again reach record levels - breaking through the £500m barrier for the first time".

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