Manchester City reported a third consecutive year of record revenues this Friday (13), with total earnings growing to £715 million, $902.76 million (R$5.45 billion) for the year ending June 2024, up from £712 million the previous year.
The also reported an overall pre-tax profit of £73.8 million. This figure was down around 8% on the previous year, but continued the trend of recording a profit in every financial year since 2014-2015, with the exception of the Covid-affected 2019-2020 season.
The Premier League champions’ revenue growth was driven by an increase in match-day takings and other commercial revenue, but was hampered by a decrease in broadcast revenue caused by the club’s Champions League quarter-final elimination.
City also said they made a record profit of £139m from player sales during the year.
“Our constant ambition to aim for and achieve the unprecedented is a hallmark of the organization we have become,” City chairman Khaldoon Al Mubarak said in a statement.
“On and off the field, our passion for the next challenge is underpinned by deliberate, detailed planning and a shared belief in the culture of collaborative learning we have built.”
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They won their fourth consecutive Premier League title in the 2023-2024 season, but were unable to defend the Champions League title won in the previous season.
The club was also accused last season of 115 breaches of Premier League financial rules, including failing to provide accurate financial information and failing to cooperate with the league’s investigation.
The club’s board recognized in its financial report a number of risks and uncertainties that could have a material impact on performance.
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“In February 2023, in response to the allegations, 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,” it said the report.
“The club continually monitors its compliance with all applicable rules and regulations and considers the impact of any potential changes.”
City are currently fourth in the Premier League table, eight points behind leaders Liverpool, and 22nd in the Champions League table.
