Manchester City announce profit for the first time since takeover
Manchester City are said to be the best run club in Manchester at the moment. Not many would agree with this point, but after the recent showing of £10.7million profit by the Citizens, one is inclined to believe that City are ready to conquer Manchester United in terms of their off-the-pitch exploits.
City underwent a transition in 2008 when Sheikh Mansour took over the club and since then has invested close to 1bn on infrastructure and transfers. That has seen the club win two Premier League trophies so far and they are a club always heading towards growth.
In a statement explaining their fourth consecutive year on the path of growth, Khaldoon al-Mubarak, the chairman, said: “The seeds of this year’s profit were sown some years ago and many people have contributed to making it happen. They deserve to be thanked and recognised. We also know that this is not the end, but the continuation of a process that should take us to an even brighter future.”
“The Group creates global scale and at the same time regional and local expertise in all aspects of operations. It is a credit to all those involved and in particular to the leadership of Ferran Soriano [the chief executive].”
“We will never be happy about a season without trophies. The priority and the focus of our work is to convert more of these opportunities into titles in the years ahead.”
Mubarak highlighted the importance of developing a sound youth system, to which he said: “The CFA has global resonance and that has significantly contributed to the ongoing growth of the Manchester City brand globally,” he said. “All metrics point to the right kind of accelerated commercial growth and that development is also in large part due to the City Football Group strategy that has been rolled out over the last two years.
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