Manchester City’s annual report for the 2018/19 season has revealed a record-high revenue, among other financial information.
The official report, which was released on Tuesday, included a revenue of £535.2m, the highest in the club’s recorded history.
It also disclosed a profit for the year of just over £10m, the fifth year in a row that profit has been recorded, while the wage to revenue ratio increased from the previous season to 59%.
Chairman Khaldoon Al Mubarak was positive about the news, saying; “This outcome represents not just a season, but a decade of hard work. The organisation is now at a level of maturity that allows us to plan in multi-year cycles”.
CEO Ferran Soriano added that, “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“
“In the last decade, we’ve become the most successful English team in terms of titles, goals, points – we aim to continue to be among the most successful in world.”
Revenue had increased almost £35m between the 2017/18 and 2018/19 seasons, a statistic that is bound to prove relevant in ongoing investigations into the club by UEFA. A statement in the report addressed these rumours directly:
“The directors welcome the opening of a formal UEFA investigation as an opportunity to bring to an end speculation resulting from illegal hacking & out of context publication of club emails. The directors are confident of a positive outcome.”
Journalist Simon Stone added that, “City stand to pay out an additional £200m in additional transfer fees, signing on fees and loyalty bonuses if various conditions are met“.
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