Club Achieves £715 Million Revenue Amidst Commercial Gains and Legal Challenges
Manchester City has announced a record revenue of £715 million for the financial year ending June 2024, marking its third consecutive year of record earnings. This represents a slight increase from the £712 million reported the previous year.
The Premier League champions reported a pre-tax profit of £73.8 million, down by 8% compared to the previous year. Despite this dip, the club continues a long-standing trend of profitability in every financial year since 2014-15, barring the pandemic-affected 2019-20 season.
City attributed the revenue growth to higher matchday and commercial income. However, this was partially offset by reduced broadcasting revenue, following the club’s quarter-final exit from the Champions League.
A significant highlight was a record £139 million profit generated through player transfers during the year.
Chairman Khaldoon Al Mubarak stated, “Our relentless ambition to achieve the unprecedented defines our organisation. Both on and off the pitch, we thrive on meticulous planning and a strong culture of collaboration.”
While City clinched their fourth consecutive Premier League title in the 2023-24 season, they were unable to retain their Champions League trophy. The club also faced legal scrutiny, being charged with 115 breaches of Premier League rules, including failing to provide accurate financial information and not cooperating with the league’s investigation.
In response to these charges, the club reiterated in its financial report that it welcomes the review process by an independent commission. “The Club monitors compliance with all applicable rules and regulations and considers the impact of any potential changes,” the report stated.
Currently, City sits fourth in the Premier League standings, trailing Liverpool by eight points, and is ranked 22nd in the Champions League table.
