Manchester City achieves unprecedented revenue of £712.8m after treble-winning season

In a groundbreaking financial feat, Manchester City has announced record-breaking revenue for the 2022-23 financial year, reaching an astounding £712.8m. This surpasses the Premier League record of £648.4m reported by Manchester United just last month, underscoring City’s dominance not only on the pitch but also in financial realms.

The club witnessed a significant uptick from £613m in the previous financial year, demonstrating remarkable financial growth despite a substantial increase in wages. The 2022-23 season proved triumphant for City, securing a Premier League, Champions League, and FA Cup treble, which played a pivotal role in bolstering their finances through heightened commercial and broadcast revenue.

Profit nearly doubled from £41.7m to an impressive £80.4m, showcasing the club’s ability to thrive both athletically and financially. This remarkable achievement comes in the face of a notable increase in salary expenditure, primarily driven by bonuses awarded to players for their historic treble-winning season.

Broadcast income soared by an extra £50.4m compared to the previous year, largely attributed to City’s successful Champions League campaign, culminating in a triumphant victory against Internazionale in June. Additionally, player transactions contributed significantly, with a net profit of £121.7m within the 12 months leading up to June 30.

Despite an increase in wages by almost £60m, representing 59% of revenue (a mere 1% increase), City has maintained financial stability, demonstrating astute financial management amidst their on-field triumphs.

The Etihad Stadium hosted 31 matches last season, an increase of four, contributing to a rise of £17.4m in annual matchday revenues, totaling £71.9m. This increase was further supported by a slight uptick in average attendances, showcasing the unwavering support of the City faithful.

Player transactions also played a significant role, with the sales of Gabriel Jesus and Oleksandr Zinchenko to Arsenal and Raheem Sterling’s departure to Chelsea generating around £125m. These transfers contributed to the club’s profit on transfers, which has now reached an impressive £330m over the past five seasons.

While the financial success is undeniable, Manchester City faces over 100 Premier League charges related to alleged breaches of financial rules, which the club staunchly denies. These charges, listed in the “risks and uncertainties” section of the accounts, include accusations of failing to provide a “true and fair view of the club’s financial position,” among others.

In the face of these challenges, Manchester City’s leadership remains optimistic about the future. CEO Ferran Soriano declared the 2022-23 season as the “best in the history of Manchester City,” emphasizing the club’s record revenues, profits, and global brand recognition. Chairman Khaldoon al-Mubarak expressed confidence in the collective achievements, envisioning a promising future for everyone connected to Manchester City. As the club continues to navigate both on-field challenges and financial scrutiny, its resilience and achievements position it as a powerhouse in the footballing landscape.