Manchester City’s annual report has revealed that the club has broken the £500 million barrier in revenue for the first time in the club’s history.
The annual financial report released on Thursday, shows that the club made a record £500.5 million in revenue for the just concluded financial year. This makes City only the second English club, after Manchester United, to record yearly revenues of more than £500 million.
The Premier League champions now rank fifth in the top five of highest revenue earning clubs in Europe. Neighbours United, Spanish giants Real Madrid and Barcelona as well as German champions Bayern Munich are all in the top five as they all posted revenues above £500 million.
For the Sky Blues, this is a massive improvement as the club has risen from a 20th-place ranking in the European clubs’ revenues league table to fifth within the last decade.
The Abu Dhabi United Group and Sheikh Mansour took over ownership of the club in 2008 with the club’s revenues at £82.4 million a year. The club was then the 20th highest revenue earner in the world and seventh in the Premier League behind United, Chelsea, Arsenal, Liverpool, Tottenham and Newcastle. The last ten years have seen consistent growth on and off the pitch.
On the field of play, Guardiola led the team to break the 100-point barrier in the Premier League last season, the first side to do so in England. The team’s performance yielded the double.
But that’s not all.
The club’s facilities have also become some of the best in Europe accounting for the development of some of the world’s best talents. The ladies team is also flourishing.
The club has also reported a profit for the fourth successive year. This year’s profit stands at £10.4 million, up from £1.088 million earned in the 2016/17 season. The wage to revenue ratio also stands at “a healthy” 52 percent.
Speaking on the release, club chairman Khaldoon Al Mubarak stated:
”Ten years ago, the idea that 2018 would bring a fourth consecutive profitable year for Manchester City, may well have been rejected as fanciful by some commentators,
”That is the reality today as revenues once again reach record levels -- breaking through the £500m barrier for the first time.
”Our aim is obviously to build on the achievements of the last year,” he continued.
“We will always strive for more. Our journey is not complete and we have more targets to fulfil.”
The Cityzens can only hope the achievements recorded in the last decade will continue both on and off the pitch.