Manchester City announced a Premier League record revenue of £715 million in their latest accounts, covering the period up to June 30, 2024.
This figure represents a £2.2 million increase from the previous record of £712.8 million.
Although City could not replicate their historic Treble triumph of 2023, they achieved an unprecedented fourth consecutive English title, along with victories in the Club World Cup and the European Super Cup.
Furthermore, wages decreased by £10.3 million, bringing the total to £412.6 million, while the club recorded an overall pre-tax profit of £73.8 million.
Additionally, commercial revenue saw a slight rise from £341.4 million to £344.7 million.
Since the 2014-15 season, City has consistently achieved profit, except for the Covid-impacted 2019-20 season.
Moreover, they confirmed an overall profit of £92.8 million from transfer business conducted since the end of June, which included the sales of Argentina forward Julian Alvarez, defender Joao Cancelo, and striker Liam Delap.
Consequently, this financial position enables them to strengthen manager Pep Guardiola’s squad during the upcoming transfer window, especially given their recent 10-game stretch with only one win.
“Our constant ambition to target and achieve the unprecedented reflects the organization we have become,” stated City chairman Khaldoon Al-Mubarak in his assessment, which was written before the club’s worst run under Guardiola.
On and off the field, the club’s passion for future challenges stems from deliberate planning and a shared belief in the collaborative learning culture they have established.
This organizational approach has become ingrained in their DNA, representing an unwavering commitment to constant improvement in all aspects of the organization since His Highness Sheikh Mansour took over as the club’s custodian in 2008.
However, this belief faces unprecedented challenges.
The recent Champions League defeat by Juventus has put City at significant risk of missing out on a play-off place, especially considering that winning the tournament in 2023 netted them £111.8 million from that competition alone.
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As they prepare for Sunday’s Manchester derby against United at the Etihad Stadium, City currently sits fourth in the Premier League, trailing leaders Liverpool by eight points, who also possess a game in hand.
“Winning the Treble last season did not create any sense of complacency within our teams, either on or off the pitch,” said chief executive Ferran Soriano.
“We recognize that the relentless pursuit of beautiful football, operational excellence, and constant innovation demands hard work and resilience.
” Notably, the accounts do not mention City’s ongoing battle with the Premier League regarding the Associated Party Transaction (APT) rules, and they only briefly address the club’s case involving 115 alleged breaches of financial regulations.
The financial statement notes, “On February 6, 2023, in accordance with Premier League Rule W.82.1, the Premier League referred several alleged breaches of the Premier League Rules by Manchester City to a commission under Premier League Rule W.3.4.”
In February 2023, the club welcomed the independent commission’s review, highlighting the irrefutable evidence backing their position on the charges.
“Amounts owed by group undertakings rose from £151.4 million in 2023 to £267.4 million, prompting inquiries from BBC Sport.”
Furthermore, “Other external charges” rose from £124 million in 2022 to £172.4 million.
The club is expanding the North Stand for £300 million, raising Etihad Stadium’s capacity to 60,000 ahead of Euro 2028.
Khaldoon also confirmed that a new women’s training facility will open during the 2025-26 season.
