City announce record turnover of £535.2m in annual report
By Ric Turner, Tue 19 November 2019 15:17
Club report profit for fifth successive year
Manchester City have announced a record turnover of £535.2m in their annual report released today. It is the eleventh successive year of revenue growth since Sheikh Mansour's takeover in 2008.
The club also reported a profit, of £10.1m, for the fifth year in a row, whilst the wage/revenue ratio is a healthy 59%.
With a new kit deal with Puma to kick in, City are in rude health financially and are closing the gap on neighbours United.
"This outcome represents not just a season, but a decade of hard work," said chairman Khaldoon al-Mubarak. "The organisation is now at a level of maturity that allows us to plan in multi-year cycles."
"These victories are not accidents," added chief executive Ferran Soriano. "They are the product of careful planning, consistent hard work and the acknowledgement of the need to stay humble and hungry.
"Our success is measured by playing beautiful football and by fighting for titles every April and May at the season's end."