Manchester City have released their annual report for the 2022-23 campaign, confirming a second consecutive year of record-breaking revenues and profits.
The Citizens have reported a Premier League record revenue of £712.8m, an increase of £99.8m on the last twelve months, which exceeds the previous record £648.4m posted by rivals Manchester United last month.
City have also reported profits of £80.4m, which has increased by almost double that of the previous year's club record of £41.7m.
The figures revealed come on the back of a historic treble-winning season under manager Pep Guardiola, who successful steered the club to a third successive Premier League title – fifth in six seasons – a seventh FA Cup and a first-ever triumph in the Champions League – becoming just the second English club after Man United in 1999 to win all three trophies in the same season.
Man City, who surpassed Real Madrid be named the most valuable football club brand in the world and top the 2023 Brand Finance Football 50 Report earlier this year, have seen significant year-on-year growth with their three main income streams of commercial, broadcast and matchday.
Not only has the men's team excelled across the board, but City have also seen a sizable increase in ticket sales and the average attendance for all games for the women's team and at youth level with their Elite Development Squad and Under-18s, who won their respective league titles for a third consecutive year in 2022-23; several titles were also won at younger youth levels all the way down to their Under-9s.
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In addition, Man City have reported another year of social media and membership growth as well as their best-ever year for TV viewing figures, with the club's total audience reaching 786 million across all competitions – 28% higher than the 2021-22 campaign.
Reflecting on the report following another successful year, chairman Khaldoon Al Mubarak told mancity.com: "In short, last season saw Manchester City achieve the greatest football and commercial year of its storied history. The season was the validation of a philosophy and sustained approach that has defined the club since His Highness Sheikh Mansour became its custodian in 2008.
"It's an approach that has always respected, and continuously built upon, the club's near 130-year history. It is founded on three key elements: putting in place all of the necessary ingredients to create football teams that excite, entertain and win silverware; relentlessly strengthening the club's sustainable commercial and financial positions; and maximising its ability to serve the growing communities of which it sits at the heart. We regard each of these elements as equally important and completely co-dependent on one another.
"Behind the first team trophies and financial headlines, and against these three areas of focus, there sit less obvious, but equally important, outcomes. For our Ownership, Board and Executive Leadership these outcomes and their associated metrics demonstrate that the club has never been stronger, nor had greater potential to continue to evolve and succeed."
Al Mubarak added: "In the aftermath of the UEFA Champions League win in Turkey and the completion of 'The Treble' the question I was asked most often, was 'How do you top that?'
"The answer is by doubling down on the proven philosophies and practices that have brought us this success and to challenge ourselves to continue to constantly innovate in order to achieve new levels of performance both on and off the field.
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"We will not be afraid to set new goals and develop new strategies that deliver for our club, its communities and stakeholders and especially for the fans.
"Success today simply means further investment for tomorrow. Our financial health and on field success mean everyone connected to Manchester City can look forward to the future with excitement. Our collective achievements give me huge confidence that together we can accomplish even more in the years to come."
Man City have also announced that their net expenditure of summer transactions for players stands at approximately £84m following the addition of four new senior players – as well as several academy signings – and the sale of 11 players.
Josko Gvardiol, Mateo Kovacic, Jeremy Doku and Matheus Nunes all joined Guardiola's side in the summer, while Riyad Mahrez, Aymeric Laporte and Cole Palmer were notable players to be sold by the club.
Man City currently sit top of the Premier League table – one point clear of second-placed Liverpool who they face next on November 25 – while they have already qualified for the last 16 of the Champions League, although they were eliminated in the third round of the EFL Cup by Newcastle United.
Oliver Thomas
