Manchester City announced a record-breaking revenue of £712.8 million for their treble-winning season in its latest financial statement released on Wednesday.
Manchester City has announced club-record revenues and profits for the 2022-23 season as chairman Khaldoon Al Mubarak claimed “Success today simply means further investment for tomorrow”. Pep Guardiola’s side achieved a historic treble last season by winning the Premier League, Champions League, and FA Cup.
City brought in £712 million in revenue for the year ended June 30, 2023. About £80.4m of that was considered profit, which is up from last year’s amount of £41.7m. In total, City’s revenues increased by £99.8m from last year and usurped the previous record of £648m posted by Manchester United last month.
Manchester City’s wages increased last season to £422.9m, up from £353.8m the previous year. Mainly due to winning the treble and signing Erling Haaland. This is a new record for an English top-flight side.
Commercial revenues accounted for £341.4m, followed by broadcast at £299.4m and then matchday at £71.9m.
Club chairman Khaldoon al-Mubarak said in a statement: “In the aftermath of the 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, on and off the field.
“We will continue to question all the industry norms, evaluate our successes and learn from any failures. 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.”
Manchester City is being investigated by an independent panel over multiple breaches of the Premier League’s Financial Fair Play rules. The club addressed the charges by saying “a number of risks and uncertainties which could have a material impact on the club’s performance”.