Man City publishes record profits and revenue for the 2022-23 financial year
Manchester City have published a club and Premier League record profit and revenue for the 2022-23 financial year.
The club posted a record revenue of £712.8 million which exceeds the record of £648.4 million posted last month by Manchester United and is a £99.8 million rise from their previous year’s recorded revenue.
City’s new record profit of £80.4 million is almost double last year’s club record of £41.7 million.
These figures come in a season in which they became the second English club after fellow rivals Manchester United in 1999 to win the Premier League, FA Cup, and Champions League treble.
The Citizens’ latest financial statements also reveal increases in all major revenue streams including broadcasting revenue which increased by 20.2% to £299.4 million.
City say this was “primarily” due to their success in the Champions League and FA Cup.
“In the aftermath of the Champions League win in Turkey and the completion of ‘The Treble’ the question I was asked most often, was ‘How do you top that?’,” said City chairman Khaldoon al-Mubarak.
“Success today simply means further investment for tomorrow. Our financial health and on-field success mean everyone connected to Manchester City can look forward to the future with excitement.”
“Our collective achievements give me huge confidence that together we can accomplish even more in the years to come.” he added.
The statements also confirm that on 6 February 2023, The Citizens were referred to a commission for a “number of alleged breaches of Premier League rules”.
However, the club has repeated its response by indicating in the statement that it “welcomes” the review and that it has “irrefutable evidence” to support its position.
In other areas, City’s wage bill rose by almost £70 million to £422.89 million and the club is committed to in excess of £262 million in “transfer fees, signing on fees and loyalty bonuses” if set conditions are met.
The club also made £121.7 million profit on player trading in the financial year and says transfers conducted after 30 June, which included the arrivals of Jeremy Doku, Mateo Kovacic, Josko Gvardiol, and Matheus Nunes, plus the departures of Cole Palmer, Riyad Mahrez, Aymeric Laporte and James Trafford cost the club an approximate net figure of £84 million.