Manchester City have announced a club-record £535.2 million ($692.3m) revenue and a £10.1 million ($13.1m) profit as part of their 2018-19 annual report.
The figures represent the 11th consecutive year of growth and the fifth consecutive year of profit under the ownership of Sheikh Mansour bin Zayed. City also revealed a wage/revenue ratio of 59%.
The Premier League champions last week had their appeal against UEFA’s investigation into alleged breaches of Financial Fair Play (FFP) thrown out by the Court of Arbitration for Sport (CAS), with the results of the investigation still to come.
City’s improved figures come after another year of sporting success on the field for both the club’s men’s and women’s teams.
Despite both sides failing to make an impact on the European stage, City’s men won an unprecedented domestic treble of the Premier League, FA Cup and Carabao Cup, plus the Community Shield at the start of the campaign under Pep Guardiola.
City’s women, led by Nick Cushing, won an FA Cup and Continental Cup double, but were beaten to the Women’s Super League title by Arsenal.
However, despite City eclipsing neighbours Manchester United on the field, the figures are still some way short of the £627.1 million ($811.8m) revenue figure announced by United in September. However, United's turnover is set to fall as a result of their failure to qualify for the Champions League, while further growth is projected for City.
City’s financial performance was boosted by a huge new kit deal with Puma. Replacing former kit providers Nike, the deal was worth £650 million ($841.2m) over a 10-year period.
In a statement released by the club, City chairman Khaldoon Al Mubarak said: “This outcome represents not just a season, but a decade of hard work.
“The organisation is now at a level of maturity that enables us to plan on multi-year cycles both in terms of our management of squads and more widely across the business.
“This strategic planning has allowed us to create an environment in which continued on-pitch success is both possible and likely, and financial sustainability is a reality.”
CEO Ferran Soriano, meanwhile, added: “Victories are not accidents; they are the product of careful planning, consistent hard work and the acknowledgement of the need to stay humble and hungry.”
By Sam France
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