Manchester City Reports Record £715m Premier League Revenue

Manchester City has declared a Premier League record revenue of £715m in its most recent financial statements, covering the period up to 30 June 2024. The club is also investing £300m to expand the North Stand, which will raise the Etihad Stadium’s capacity to 60,000. This revenue figure represents an increase of £2.2m from the prior record of £712.8m. This achievement occurred during a year when the team did not replicate its historic 2023 Treble triumph, yet it still secured an unprecedented fourth consecutive English title, along with wins in the Club World Cup and European Super Cup. Wages decreased by £10.3m, reaching £412.6m, contributing to City’s reported overall pre-tax profit of £73.8m. Commercial revenue saw a slight rise from £341.4m to £344.7m. The club has now posted a profit in every season since 2014-15, with the sole exception of the 2019-20 campaign, which was affected by Covid. Furthermore, Manchester City has confirmed an overall profit of £92.8m from transfer activities completed since the end of June, encompassing the sales of Argentina forward Julian Alvarez, defender Joao Cancelo, and striker Liam Delap. This financial position suggests the club is well-positioned to strengthen manager Pep Guardiola’s squad in the upcoming transfer window, should reinforcements be deemed necessary, particularly after their recent 10-game period yielding only one victory. City chairman Khaldoon al-Mubarak stated in his assessment, which predates the club’s most challenging period under Guardiola: “Our constant ambition to target and achieve the unprecedented is a mark of the organisation that we have be come.” He continued: “On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning and a shared belief in the collaborative learning culture that we have built.” Al-Mubarak added: “This organisational approach is now part of our DNA. It is a product of the unwavering focus on constant improvement, in every aspect of the organisation, that has been in place since His Highness Sheikh Mansour became the club’s custodian in 2008.” He also remarked: “That belief is being tested like never before.” The recent Champions League defeat to Juventus on Wednesday has placed City at a significant risk of failing to secure a play-off spot. Winning the tournament in 2023 had generated £111.8m for City from that competition alone. The team will enter Sunday’s Manchester derby against United at Etihad Stadium positioned fourth in the Premier League, trailing leaders Liverpool by eight points, with Liverpool also holding a game in hand. Chief executive Ferran Soriano commented: “Winning the Treble in the previous season did not generate any sense of complacency in our teams on or off the pitch.” Soriano further stated: “We understand very well that the relentless pursuit of beautiful football, operational excellence, and constant innovation requires hard work and resilience.” The financial accounts do not mention City’s recent dispute with the Premier League regarding the Associated Party Transaction (APT) rules, and they contain only a brief reference to City’s continuing case with the Premier League concerning 115 alleged breaches of financial regulations. Regarding this matter, the financial statement indicates: “On 6 February 2023, in accordance with Premier League Rule W.82.1, the Premier League referred a number of alleged breaches of the Premier League Rules by Manchester City to a commission under Premier League Rule W.3.4. In February 2023, in response to the charges, the club issued a public statement that it welcomes the review of this matter by an independent commission, to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position.” The figure for ‘Amounts owed by group undertakings’ has increased from £151.4m in 2023 to £267.4m in the current accounts, a point BBC Sport has inquired about with the club. Additionally, ‘Other external charges’ have climbed from £124m in 2022 to £172.4m. The club is currently undertaking a £300m expansion of the North Stand, which is projected to increase Etihad Stadium’s capacity to 60,000 in preparation for Euro 2028. Khaldoon also confirmed that a new women’s training facility is scheduled to open during the 2025-26 season.