Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home General News Sports

Manchester City announces £2.4 million profit for 2020/2021 fiscal year

Ajalogun Hakeem by Ajalogun Hakeem
January 14, 2022
in Sports
Manchester City announces £2.4 million profit for 2020/2021 fiscal year
Share on FacebookShare on TwitterShare on Linkedin

English soccer’s top-flight club, Manchester City Football Club Limited have released its annual financial report for 2020/2021. The annual report represents a return to profitability for the English football giants and the continuance of their long-term steady growth after it was interrupted by the pandemic.

The figures published in their financial statements represents a club record in terms of revenue. For the first time last year, Manchester City’s revenue exceeded those of their rival, Manchester United.

Read: Manchester City announces £192m net loss for 2019/20 fiscal year

While their rivals, Manchester United posted revenue of £494.1million for the year ended 30th June 2021, the Premier League holders posted a record total revenue of £569.8 million for the 2020/21 fiscal year, an increase of £91.4 million (19%) compared to £478.4 million made in the same period last year. The annual report also boasts a profit of £2.4 million.

The Citizens had a highly successful campaign on the field as the men’s first team finished the league in style with a Premier League title, Carabao Cup and reaching the Champions League final for the very first time in the club’s history.

Read: Manchester City becomes first English football club to go Crypto

Due to the pandemic, matches were played behind closed doors which led to the fall of matchday revenue from £41.7 million in the 2019/20 season to just £732,000 for the 2020/21 season. The club said the 98% reduction was offset by Champions League income. Broadcasting income was £297.4million, an increase from £190million made in the 2019/20 season. Commercial revenue was £271.7million.

What they are saying

Chief Executive Officer, Ferran Soriano said, “The season closed with the team having played 63 out of a maximum possible 64 matches, taking home the Premier League title, winning a record-equalling eight League Cups, reaching the final of the Uefa Champions League for the first time and breaking a raft of records in the process. This is not a club that gives up when the going gets tough.

“From a business perspective, we were pleased to return to profitability, having successfully navigated the revenue challenges created by the pandemic. Covid-19 did not stop us, and we continued to grow, innovate and develop new ideas.

“We are hopeful that the pandemic-related challenges from the last two seasons will continue to subside, as we keep working tirelessly towards our objectives.

“And while we cannot dismiss the pain of missing out on the trophy in Porto at our first ever Uefa Champions League final, we must also pause to savour the fact that Manchester City has won three of the last four Premier League titles, and are now looking ahead to what we can do to achieve even greater success in the next stage of our journey.

Related

Tags: English Premiere LeagueManchester City

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Netflix sacks 150 employees amidst slowing revenue
    • Spam accounts: Elon Musk puts Twitter’s claim to test on social media platform
    • 2023: US government to impose visa restriction on politicians who promote electoral violence 

    Follow us on social media:

    Recent News

    Netflix sacks 150 employees amidst slowing revenue

    Netflix sacks 150 employees amidst slowing revenue

    May 18, 2022
    Spam accounts: Elon Musk puts Twitter’s claim to test on social media platform

    Spam accounts: Elon Musk puts Twitter’s claim to test on social media platform

    May 18, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
    • Economy
      • Macro-Economic News
      • Get Data
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com