NEW DELHI: Premier League club Manchester City posted record revenues in the 2023-24 season, with their income soaring to £715 million ($903 million).
This marks an increase from £712.8 million the previous year, during which City claimed their fourth consecutive Premier League title.
Despite the revenue growth, the club’s profits saw a slight decline, dropping from £80.4 million in the treble-winning 2022-23 season to £73.8 million. The decrease was largely due to a drop in broadcast income, as City failed to replicate their Champions League triumph of 2023.
Currently, City is investing heavily in the expansion of the Etihad Stadium, with a £300 million project to enlarge the north stand.
Chairman Khaldoon Al Mubarak reflected on the club’s ambition in the annual report, saying, “Our constant ambition to target and achieve the unprecedented is a mark of the organisation that we have become.
“On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning and a shared belief in the collaborative learning culture that we have built.
“Our focus remains on further evolution and growth and therefore further value creation in all aspects of our business.”
However, on the pitch, City is facing challenges. After a disappointing loss to Juventus in the Champions League, they are struggling with just one win in their last 10 matches across all competitions.
As they prepare to face Manchester United in the Premier League on Sunday, they are eight points behind leaders Liverpool and risk missing out on the Champions League knockout stage.
The club is also awaiting a ruling on the 115 charges of alleged financial rule breaches brought against them by the Premier League. If found guilty, City could face a points deduction or even relegation, though the club has strongly denied the allegations.
