Manchester City: Record-breaking revenues and profits reported by treble-winning club
Manchester City Breaks Premier League Revenue Records
In a remarkable financial feat, Manchester City has surpassed all expectations by posting a staggering revenue of £712.8m for the 2022-23 season. This extraordinary figure exceeds the previous record set by rival club Manchester United last month, with an increase of £99.8m compared to the previous year.
The club’s profit also soared to new heights, reaching an impressive £80.4m from their operations during this period—significantly surpassing their own record-breaking profit of £41.7m from the previous season.
This momentous achievement comes on the heels of a historic year for Manchester City in which they secured an unprecedented Treble victory in English football—the Premier League title, FA Cup glory, and triumph in the illustrious UEFA Champions League—they became only the second English club ever to achieve such a feat after arch-rivals Manchester United accomplished it back in 1999.
Although Barcelona holds claim to reporting higher revenue figures with €990m (£861.43m) recorded in 2019, there have been debates about its legitimacy due to substantial additional sums included within their overall revenue calculations.
“In the aftermath of our Champions League success and completing ‘The Treble,’ I was often asked how we could top that,” said Khaldoon al-Mubarak, Chairman of Manchester City FC.
“Our answer is simple: we will double down on our proven philosophies and practices that have led us to this phenomenal success while continuously innovating to reach new levels of performance, both on and off the pitch,” he added.
“We will challenge industry norms, learn from our triumphs as well as failures, ensuring that success today translates into future investments. With financial stability and on-field achievements, everyone connected to Manchester City can look forward to an exciting future,” expressed al-Mubarak with confidence.
The club’s financial statement reveals substantial growth across all major revenue streams. Broadcast revenues witnessed a remarkable 20.2% surge amounting to £299.4m—an increase primarily attributed to their triumphant progress in the Champions League and FA Cup competitions throughout the season.
However, it is important to note that Manchester City still faces potential risks and uncertainties that could have significant implications for their overall performance—such as the first team’s capabilities, regulatory changes within football governance bodies, and a staggering total of 115 financial charges issued against them by the Premier League back in February.
The club was accused of breaching financial regulations between 2009 and 2018 while also facing allegations of non-cooperation during investigations launched since December 2018.
An independent commission has been appointed to oversee this case with possible penalties ranging from fines or point deductions up to expulsion from the prestigious Premier League itself—a situation vehemently denied by Manchester City who maintain their innocence throughout these proceedings:
“In February 2023, following the charges brought against us, we issued a public statement welcoming an impartial review conducted by an independent Commission—one that would consider irrefutable evidence supporting our position,” stated in their official report released recently.
In addition to skyrocketing revenues, Manchester City saw a notable rise in wage expenses—an increase of nearly £70m reaching £422.89m—and they are further committed to paying over £262m for transfer fees along with signing and loyalty bonuses, subject to specific conditions being met.
The club also managed to generate a substantial profit of £121.7m from player trading activities during the 2022-23 financial year—highlighting their shrewdness in the transfer market. Notably, this figure takes into account all transfers conducted after June 30th, 2023, including significant arrivals such as Jeremy Doku, Mateo Kovacic, Josko Gvardiol, and Matheus Nunes; meanwhile bidding farewell to players like Cole Palmer, Riyad Mahrez, Aymeric Laporte, and James Trafford at an estimated cost of approximately £84m.