City announced record revenues in excess of £500m
By Ric Turner, Fri 14 September 2018 09:52
Club also report profit for fourth successive year
Manchester City announced record of revenues in excess of £500m in their annual report, which was released yesterday. The club also reported a profit (of £10.4m) for the fourth successive season, and a healthy wage-revenue ratio of 52%.
The accounts show that owner Sheikh Mansour has put £1.3bn into the club, which is now valued around £2.3bn, representing a healthy return on his original investment.
“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,” chairman Khaldoon Al-Mubarak said. “That is the reality today as revenues once again reach record levels - breaking through the £500m barrier for the first time - whilst more than 400 male and female players train and play in world-class facilities and emerging homegrown young talent begin to make their mark. We have not diverted in any way from our strategy for on-field success within a commercially and financially sustainable organisation.”
Al Mubarak added: “We will always strive for more. Our journey is not complete and we have more targets to fulfil. There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the ten seasons that came before.”
Football finance expert David Bick told Sky Sports News: "I've spoken before about the figures over the last few years at City, and they just keep getting better. And although I hesitate to say this in absolute terms, I think they are fast becoming the strongest football club in the country."