Manchester City have announced they've broken the £500m revenue barrier for the first time.
• City post record revenues of £500.5 million, a 44% increase in five years
• Profits reported at £10.4 million, the Club's fourth consecutive year of profitability
• Wage/revenue ratio sits at a healthy 52%
City released its Annual Report for 2017-18, announcing revenues of more than £500 million for the first time in City history, and the tenth successive year of improved financial performance. The Club enters its fourth consecutive year as a profitable business, posting a profit of £10 million.
It was a record-breaking year for Manchester City on the field too, with performances by the men's team breaking more than 25 records including most goals scored and most games won, as well as being the first top-flight team in football league history to reach 100 points.
In the report, Chairman Khaldoon Al Mubarak takes the opportunity to reflect on the Club's development since 2008 noting that, “most of the developments visible today are the result of a carefully crafted strategy- one in which organic evolution has also been allowed to thrive". He goes on to highlight Manchester City's positive financial performance over the past season, pointing to the breaking of the £500M barrier for the first time and the posting of a profit in excess of £10m, further commenting that “The 2017-18 season will go down in history because of the incredible football we all witnessed" and saying that “we are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them."
CEO Ferran Soriano comments that he is “proud of our performances and of the trophies won, but equally recognise[s] the process by which they were achieved" and calls the season a “remarkable campaign". He looks to the future saying, “We recognise that the sporting challenge continues. Consistent domestic success and further development in the Champions League will be our focus in 2018-19 and the seasons to come".