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City post record low losses

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The club  released its Annual Report on Wednesday with the high level takeaways overwhelmingly positive:

This year's report reveals that the Club has broken the £300m threshold for revenues for the first time in its history, with £347m of income being generated.  The report also reveals a bottom line loss of £23m for 2013-14. This figure includes the accounting in full of £16m that recognises the total UEFA sanctions imposed in May 2014 following disputed breaches of its Financial Fair Play regulations. The club expects to be entering the 2015-16 season with no outstanding sanctions or restrictions.

From the above statement the club would appear to still be unhappy at the UEFA imposed sanctions for breaching the FPP regulations, given they use the term 'disputed' when referencing the penalty imposed on them. Importantly though, the club 'expects' there to no sanction or restriction heading into next season

A couple of high level financials then:

  • City's revenue of £347 million is second only to Manchester United's £433 million and the first time they are in excess of £300 million.
  • Of this total, commercial revenue from £143 million to £166 milllion, reflected by an increase to 35 commercial partners.
  • The new Premier League TV deal has helped revenues rise 51% to £133 million.
  • Matchday revenue increased on a lower scale, up to £48 million from £40 million.
  • Wages are 59% of turnover, down from 87% a year ago and the £205 million spent is now lower than the amount United are spending.

The emphasis on commercial growth is something that has been evident over the past 2-3 seasons, with Khaldoon al-Mubarak saying:

"We have moved beyond the period of heavy investment that was required to make the Club competitive again, it is commercial growth of the kind we are seeing today that will underpin and support our operations in the future."

The full report can be found here.