Just In: Man City chairman makes statement as Blues record £78m profit and surge above United and Liverpool
Manchester City has reported a £78m profit and record revenues of £715m, extending its brand value lead over United and Liverpool. Chairman Khaldoon Al Mubarak credited strategic planning and Sheikh Mansour’s ownership for the club’s sustained success on and off the pitch.
DETAILS:
Manchester City’s latest annual report showcases a remarkable financial and operational year for the club. Key highlights include:
Record £715m revenue: A £2.2m increase from the previous year despite fewer home games.
Profit from player sales: £139m in profits from player transfers, including big-money sales like Julian Alvarez (£64m).
Brand value dominance: Brand valuation soared to £1.4bn, outpacing Manchester United (£1.1bn) and Liverpool (£1.1bn).
Fan engagement: City was crowned the most-watched Premier League team with 694m viewers and a robust 184m social media following.
Commercial revenue saw a £3.3m rise to £344.7m, while matchday revenues increased by £3.7m despite fewer games. However, broadcasting revenue dipped by £4.7m due to their earlier Champions League exit compared to the prior season’s final victory.
City’s report also acknowledged the ongoing independent review into alleged Premier League financial breaches, with a verdict anticipated in 2024.
QUOTES:
Chairman Khaldoon Al Mubarak emphasized City’s enduring ambition:
“Our constant ambition to target and achieve the unprecedented is a mark of the organisation we have become. This approach is now part of our DNA.”
CEO Ferran Soriano pointed to the challenges of sustaining success:
“Winning the Treble reminded us of the size of the challenge every time we raise the bar. We embrace the challenges, learn from defeats, and relentlessly pursue operational excellence and beautiful football.”
FULL REPORT:
Manchester City has unveiled its 2023/24 Annual Report, highlighting a groundbreaking year for the club both financially and operationally. The Blues reported a record £715 million in revenue, marking a £2.2 million increase from the previous year despite hosting five fewer home games. This financial triumph comes alongside a remarkable £78 million profit, solidifying City’s position at the forefront of football’s elite.
A significant contributor to these figures is the club’s £139 million profit from player sales. Notable transfers include Julian Alvarez for £64 million, Joao Cancelo for £21 million, and Sergio Gomez for £8.4 million. The academy also played a pivotal role, contributing over £50 million in sales, with an additional £25 million from Yan Couto’s pre-arranged transfer at the end of the season.
Commercially, the club saw revenues climb by £3.3 million to £344.7 million, and matchday income rose by £3.7 million to £75.6 million, defying the reduced fixture list. However, broadcasting revenue dipped by £4.7 million to £294.7 million, attributed to City’s Champions League quarter-final exit compared to the previous season’s final victory.
City’s brand valuation surged to £1.4 billion, extending its lead over rivals Manchester United and Liverpool, both valued at £1.1 billion. This increase cements the Blues as the most valuable football brand in England. Additionally, the club celebrated its status as the most-watched Premier League team, boasting 694 million viewers worldwide and an impressive 184 million social media followers.
Despite these successes, the report did not shy away from addressing the ongoing independent review into alleged financial breaches by the Premier League. A decision on the matter is expected in the new year, with City maintaining confidence in their comprehensive defense.
The 2023/24 Annual Report underscores Manchester City’s dominance both on and off the pitch, highlighting their strategic planning, operational excellence, and growing global influence.
CITATIONS:
This report is based on reports from:
- Manchester City Annual Report 2023/24.
- Brand Finance Football 50 report.
- Premier League financial breach investigation updates (as cited in Manchester City’s official communications).
KEEP IN MIND:
The report highlights City’s financial prowess but underscores the club’s proactive stance on its ongoing legal challenges. With record profits and expanding brand influence, City remains a step ahead of its rivals while setting the standard for operational excellence in football.
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