English soccer’s top-flight club, Manchester City Football Club has released its annual financial report for the 2021/22 season covering the period of 1st of July, 2021 to 30th of June 2022, announcing the highest-ever revenues and profits in the Club’s history.
The Manchester club recorded a club record revenue of £613million with a staggering profit of £41.7million. The club’s record revenue makes it the second highest revenue in the Premier league’s history with their fellow Manchester club, Manchester United recording the highest revenue in 2019 where they posted a revenue of £627million.
The Citizens posted a record total revenue of £613million for the 2021/22 fiscal year, an increase of £43.2million compared to £569.8million made in the same period last year. The annual report also boasts a profit of £41.7million, with a staggering increase of £39.3million compared to £2.4million in the previous year.
Post Covid bounce: The previous season was a successful one for the Manchester club both on and off the pitch with the team winning their sixth Premier League title since the 2008 takeover by the Abu Dhabi United Group.
- The women’s team and the youth squad also rounded off their season with trophies.
- The post-lockdown effect also played a role as last season saw the return of fans to Etihad stadium which brought £54.5million in matchday revenues, coupled with an increase of £37.8million in the commercial activity from £271.7million to £309.5million.
- ‘Profits were also boosted by significant player trading. The £67.7 million profit City generated from the transfer of players’ registrations took the total above £250 million over the last five years and this will grow even further in 2022/23 following the club’s unprecedented transfer business in the 2022 summer window,’ a report said.
Club statement: Reflecting on the club’s annual fiscal report, Manchester City Football Club chairman, Khaldoon Al Mubarak said the following:
- “As we reflect on the 2021/22 season, I do so with immense pride in the work and commitment of all of our City family, that has allowed us to emerge from the pandemic with strong finances and further on-pitch successes.
- “We should feel uplifted by the collective achievements of so many and look to the future with anticipation, knowing our Club is committed to accomplishing so much more.”
- ”In 2008 we gave ourselves the target of exceeding the benchmarks that had been set by others within football; and in doing so, to also exceed the new standards that we believed leading clubs would achieve in the time it would take us to catch-up.”
- “Our aim was clear – to one day be the Club that set the benchmark for others. The statistics and results show that in many ways we are beginning to achieve our long-term ambition.” He added.
Chief Executive Officer of the football club, Ferran Soriano echoes these sentiments: “Our strong revenue performance was due to multiple factors, but ultimately driven by the beautiful football we play and the continuous fan growth that it generates; more fans, more audiences, more people in the stadium, and more partners that want to be commercially associated with Manchester City.”