Club return to profitability after highly successful season
The club released its Annual Report for 2020-21 this week, and saw revenues rise by 19% to £569.8m. This represented a return to profit (of £2.4m) following heavy losses the previous year due to the pandemic.
City's matchday income was down by 98% as a result of games being played behind closed doors, but broadcast revenues rose 55% to £297m, although the figure was inflated because some games were moved into 2020-21 from the previous season.
The club’s commercial revenues increased 8% to £271m, whilst the run to last season’s Champions League final led to income of over £100m from Uefa.
Chairman Khaldoon Al Mubarak said:
“The success of our men’s first team – this year’s trophies represent our fifth Premier League title and sixth League Cup of the last decade – is our story today.
“Our story tomorrow will be written by the next generation, who made history this year when the EDS and U18 teams won their respective leagues, meaning Manchester City hold the titles at all three levels of the men’s game.”
“His Highness Sheikh Mansour’s vision, set in 2008, is the reality we are living thirteen years later – we are a sustainable and socially responsible organisation, finding and developing talent and competing for trophies on both the domestic and European stage.”
Chief Executive Officer Ferran Soriano added:
“From a business perspective, we were pleased to return to profitability, having successfully navigated the revenue challenges created by the pandemic.
“COVID-19 did not stop us, and we continued to grow, innovate and develop new ideas.”
“We look ahead with the knowledge that we are going to come back stronger and more experienced, knowing that we have reached not only that benchmark but also a level of consistency which gives us great confidence for the future.”