City post Premier League record revenue of £712.8m
By Ric Turner, Wed 15 November 2023 15:16
Club report impressive financial results after most successful season in their history
City have announced a Premier League record revenue of £712.8m for the 2022-23 financial year. The figure is up from £613m in the previous year, with profits almost doubling to £80.4m.
The 2022-23 season was the most successful in the club's history, with Pep Guardiola's side winning an historic treble. The runs in the FA Cup and Champions League meant that broadcast revenues increased by 20.2% to £299.4m, whilst wages were up by £70m.
Chairman, Khaldoon Al Mubarak, said: “In short, last season saw Manchester City achieve the greatest football and commercial year of its storied history. The season was the validation of a philosophy and sustained approach that has defined the Club since His Highness Sheikh Mansour became its custodian in 2008.
It’s an approach that has always respected, and continuously built upon, the Club’s near 130-year history. It is founded on three key elements: putting in place all of the necessary ingredients to create football teams that excite, entertain and win silverware; relentlessly strengthening the Club’s sustainable commercial and financial positions; and maximising its ability to serve the growing communities of which it sits at the heart. We regard each of these elements as equally important and completely co-dependent on one another.
Behind the first team trophies and financial headlines, and against these three areas of focus, there sit less obvious, but equally important, outcomes. For our Ownership, Board and Executive Leadership these outcomes and their associated metrics demonstrate that the Club has never been stronger, nor had greater potential to continue to evolve and succeed.”
Chief Executive Officer, Ferran Soriano, added: “Winning the Treble, the Champions League (for the first time), the Premier League (the third title in a row) and the FA Cup. Achieving record revenues and record profits. Winning the Ballon d’Or for best Men’s Club of the Year and being named the most valuable football club brand in the world. We can certainly say that the 2022-23 season was the best in the history of Manchester City.