Skip to main content

Record revenues at Manchester City

A new television broadcasting deal helped Manchester City to report record revenues and a third successive year of profitability last season. Revenues in the 13 months to June 30 increased 21 per cent from last year to £473.4m. Only Manchester United have a higher turnover in the Premier League. The club remains debt free.

City's rise in revenues represented faster growth than its rival Manchester United. However, City is far less profitable, reporting earnings of just £1m, although this is the third year in succession in which it has recorded a profit. It said that the decline from nearly £20m last year was due to a change in the reporting period to bring it in line with other members of the City Football Group owned by Sheikh Mansour. This includes teams in the US, Australia, Japan, Uruguay and Spain.

However, the cost of backing Pep Guardiola was revealed in a 37 per cent increase in the wage bill from £197.58m to £264.13m after several years when it had remained flat. However, club officials describe the 56 per cent wage to revenue ratio (up from 50 per cent the previous year) as 'healthy'. Adjusted for a 12 month period, it is still less than Manchester United's wage bill.

Broadcast increased by 21 per cent to £203m while commercial rose even faster, by 23 per cent, to £218m, as City secured new partnerships such as the NexEn sponsorship on this year’s shirt sleeves. City also hosted a series of lucrative concerts at the Etihad Stadium. Matchday income was £51.9m.

Comments

Popular posts from this blog

Wolves get raw deal from FFP

  I used to see a lifelong Wolves fan for lunch once a month.   He was approaching ninety, but still went to games.   Sadly he passed away the other week. As football finance guru Kieran Maguire has noted, Wolves continue to be constrained by financial fair play rules.  Radio 4 this morning described them as this year's 'crisis club' and the pessimists have certainly been piling in. Martin Samuel wrote sympathetically in the Sunday Times yesterday, saying that the Premier League drives talent away with regulatory red tape: 'Why could Al-Hilal sign Neves? Because Wolves needed the money. And why did Wolves need the money? Because the club had to comply with an artificial construct known as financial fair play. So Wolves are going skint, yes? No. There is no suggestion that Wolves are in financial trouble, only that they are failing to meet the rigours of FFP. Wolves’ owners appear to have the money to run the club, and invest in the club, and in fact came up with a pow

Gold standard ground boosts Tottenham's income

The gold standard in European football grounds is the Tottenham Hotspur stadium in north London, a £1bn construction project completed in 2019. Its impact on the club’s finances has become increasingly clear as the effects of the pandemic have faded. Previously, the average fan would spend less than £2 inside the ground on a typical match day, but now that figure is about £16, thanks to new facilities including the longest bar in Europe and an on-site microbrewery. Capacity has gone up from 36,000 at the club’s previous home of White Hart Lane to 62,000.  The new stadium — built on land adjacent to White Hart Lane — has opened the door to a broad range of other events that have helped to push commercial income up from €117mn in 2018 to €215mn in 2022. Last year, Tottenham hosted US singer Beyoncé for five nights on her global Renaissance tour, two NFL matches, as well as rugby games and heavyweight boxing bouts.  Money brought in from football has gone up too. Match day income is

Charlton takeover approved

The long awaited takeover of Charlton Athletic by SE7 Partners from Thomas Sandgaard has been approved:  https://londonnewsonline.co.uk/se7-partners-obtain-efl-approval-for-charlton-athletic-takeover/ Charlton have had unhappy experiences with owners for over a decade, so how this works out will remain to be seen.  There is certainly potential there, but will it be realised? This interview with Charlie Methven gives detail not available elsewhere:  https://thecharltondossier.com/charlie-methven-on-the-record/