English soccer’s top-flight club, Manchester City Football Club has released its annual financial report for the year 2021/22 season covering the period of 1st of July, 2021 to 30th of June 2022, announcing the highest-ever revenues and profits in the Club’s history.
The club recorded a revenue of £613million with a staggering profit of £41.7million which makes it the second highest revenue in the Premier league’s history with their fellow Manchester club, Manchester United recording the highest revenue in 2019 where they posted a revenue of £627million.
The Citizens posted a record total revenue of £613million for the 2021/22 fiscal year which is an increase of £43.2million compared to £569.8million made in the same period last year. The annual report also boasts a profit of £41.7million, with a staggering increase of £39.3million compared to £2.4million in the previous year.
Considering the Covid bounce, the previous season was a successful one for the Manchester club both on and off the pitch with the team winning their sixth Premier League title since the 2008 takeover by the Abu Dhabi United Group.
The women’s team and the youth squad also rounded off their season with trophies.
The post-lockdown effect also played a role as last season saw the return of fans to Etihad stadium which brought £54.5million in matchday revenues, coupled with an increase of £37.8million in commercial activity from £271.7million to £309.5million.
According to a report, ‘Profits were also boosted by significant player trading. The £67.7 million profit City generated from the transfer of players’ registrations took the total above £250 million over the last five years and this will grow even further in 2022/23 following the club’s unprecedented transfer business in the 2022 summer window.’
Speaking on the annual fiscal report, Manchester City Football Club Chairman, Khaldoon Al Mubarak said “As we reflect on the 2021/22 season, I do so with immense pride in the work and commitment of all of our City family, that has allowed us to emerge from the pandemic with strong finances and further on-pitch successes.
“We should feel uplifted by the collective achievements of so many and look to the future with anticipation, knowing our Club is committed to accomplishing so much more.”
“Our aim was clear – to one day be the Club that set the benchmark for others. The statistics and results show that in many ways we are beginning to achieve our long-term ambition.” He added.
Also the Chief Executive Officer of the football club, Ferran Soriano stated, “Our strong revenue performance was due to multiple factors, but ultimately driven by the beautiful football we play and the continuous fan growth that it generates; more fans, more audiences, more people in the stadium, and more partners that want to be commercially associated with Manchester City.”