Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views :
Oh Snap!

Please turnoff your ad blocking mode for viewing your site content

Whistle Blowers Nigeria

Best Source of Breaking News in Nigeria

img

Football Money: Man City breaks Premier League £500m revenue record

/
/
/
299 Views

Man City breaks Premier League £500m revenue record

Premier League title holder, Manchester City, have announced a record revenue of £500.5m for  2017-18 season.

The number marks a continued increase in Man City’s turnover from £473.4m for the previous season, and £392m for the 2015-16 campaign. City’s revenues have now increased 44 per cent in the last five years, as the club continues to succeed on and off the pitch.

Man City also reported a £10.4m profit, the fourth consecutive year of profitability for the club. Those profits are up from £1.1m, the figure from last season.

Last season, Man City won the EFL Cup and the Premier League, setting new competition records for most points, most wins and most goals scored. It was the second year of Pep Guardiola tenure at Etihad Stadium and the first since the summer spending spree of 2017, when the club bought Kyle Walker, Ederson, Danilo, Benjamin Mendy and Bernardo Silva. Despite those additions to the wage bill, City’s wage/revenue ratio stood at 52 per cent for last season – a small decrease from the 55 per cent figure for the previous campaign.

Man City’s annual report to 30 June 2018, confirms they are the second English club to break the £500m barrier.

The club reported a profit for the fourth successive season, this time of £10.4m and a wage-revenue ratio of 52%.

The healthy financial report comes four months after City won the Premier League by a record 19 points.

Those figures would mean the City wage bill for 2017-18 was roughly £260m, which would mark a small decrease from the £264m figure for 2016-17 season, when City went trophyless and scraped qualification for the Champions League.

Announcing the club’s financial results, Khaldoon Al-Mubarak, City chairman, said: “The 2017-18 season will go down in history because of the incredible football we all witnessed.

“We are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them.

“Our aim is obviously to build on the achievements of the last year. We will always strive for more. Our journey is not complete and we have more targets to fulfil.

“There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the 10 seasons that came before.”

 Al Mubarak said: “Our journey is not complete and we have more targets to fulfil. We will always strive for more.”

Chief executive Ferran Soriano added that further progress in the Champions League was a specific focus.

City have just completed 10 years under the ownership of Sheikh Mansour’s Abu Dhabi United Group.

Al Mubarak added: “Most of the developments visible today are the result of a carefully crafted strategy.”

 Only the likes of Real Madrid, Barcelona, Bayern Munich and Manchester United generate greater income than City, who have increased the capacity of the Etihad Stadium to 55,000.

 Anthony Nlebem

  • Facebook
  • Twitter
  • Google+
  • Linkedin
  • Pinterest

Leave a Comment

This div height required for enabling the sticky sidebar