Manchester City break £500m revenue and report £10.4m profit after winning Premier League title

Manchester City have announced that they made record revenues of £500.5m ($NZ 998m) for the title-winning 2017-18 season.

The number marks a continued increase in City’s turnover from £473.4m for the previous season, and £392m for the 2015-16 campaign. City’s revenues have now increased 44 per cent in the last five years, as the club continues to succeed on and off the pitch.

City also reported a £10.4m profit, the fourth consecutive year of profitability for the club. Those profits are up from £1.1m, the figure from last season.

Last year City won the EFL Cup and the Premier League, setting new competition records for most points, most wins and most goals scored. It was the second year of the Pep Guardiola tenure at City and the first since the summer spending spree of 2017, when City bought Kyle Walker, Ederson, Danilo, Benjamin Mendy and Bernardo Silva. Despite those additions to the wage bill, City’s wage/revenue ratio stood at 52 per cent for last season – a small decrease from the 55 per cent figure for the previous campaign.

Those figures would mean the City wage bill for 2017-18 was roughly £260m, which would mark a small decrease from the £264m figure for 2016-17 season, when City went trophyless and scraped qualification for the Champions League.

Announcing the club’s latest financial results, City chairman Khaldoon Al-Mubarak said: “The 2017-18 season will go down in history because of the incredible football we all witnessed.

“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.

“Our aim is obviously to build on the achievements of the last year. We will always strive for more. Our journey is not complete and we have more targets to fulfil.

“There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the 10 seasons that came before.”

SOURCE: Independent.co.uk

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