City became the 2nd Premier League team to announce £500m revenues
After winning the Premier League with record 100 points, Manchester City have now also set a club record. They become only the second English club after their rivals Manchester United to announce revenues of more than £500 million.
City became the 2nd Premier League team to announce £500m revenues.
Not only in the Premier League, City had been the fifth-highest revenue earner in the world last season at £473.4m. And now it has increased to £500.5m.
La Liga giants Barcelona and Real Madrid and the Bundesliga champions Bayern Munich also got revenues of more than £500m last season. However, City reported a profit for the fourth successive year.
Chairman of Manchester City, Khaldoon Al Mubarak said:
“Our aim is obviously to build on the achievements of the last year. e will always strive for more. Our journey is not complete and we have more targets to fulfil. We recognise that the sporting challenge continues. Consistent domestic success and further development in the Champions League will be our focus in 2018-19 and the seasons to come.”
More than £4m each increased for matchday and other commercial activities. Meanwhile, payroll costs fell by £4.5m despite an increase in employees by more than a third.
Sheikh Mansour have completed 10 years of ownership. Before he took over, the revenue was £82.4m. However, at that time it still made them the 20th highest revenue earner in the world and seventh in the Premier League.
Al Mubarak also said that many including the commentators underestimated City in the past, but they can now see where they are.
“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.”