Tuesday 19 November 2019 13:44, UK
Manchester City have posted record revenues of £535m and more than £10m of profit in their annual report.
It is the second successive year the Premier League champions have posted revenues above the £500m mark, with this year's figures representing a 6.9 per cent increase to £535.2m.
Profit stood at £10.1m for the 12 months ending June 2019, the fifth consecutive year the club have made a profit, while their wage-to-revenue ratio stands at 59 per cent.
Pep Guardiola's side won a domestic treble last season as they secured back-to-back Premier League titles.
Chairman Khaldoon Al Mubarak said: "The 2018-19 season was extraordinary - a second consecutive Premier League win, new records broken, and an historic trophy haul, in one of the most exciting title races in recent years. To finish a season holding six domestic men's and women's trophies is an outcome that represents not just a season, but a decade, of hard work.
"This level of sustained success is possible for many reasons, but in particular because of our people and, critically, because of our ability to plan. As intended by His Highness Sheikh Mansour, our organisation is now at a level of maturity that enables us to plan on multi-year cycles both in terms of our management of squads and more widely across the business. This strategic planning has allowed us to create an environment in which continued on-pitch success is both possible and likely, and financial sustainability is a reality.
"2018-19 saw an eleventh consecutive year of revenue growth, and that is in part a product of our ongoing investment in football expertise, not just in Manchester but around the world. That investment will remain fundamental to our approach.
"The way we play is reflective both of the wonderful qualities of our footballers but also of those involved in defining our style of play and identifying and recruiting the talent to deliver it. Pep Guardiola, Nick Cushing, together with Ferran Soriano, Txiki Begiristain, Brian Marwood and their extended teams deserve huge credit for the football we are seeing today in Manchester and in our clubs across the globe.
"We remain committed to continuing our investment in youth development and advanced facilities, but in doing so we know that the challenges of the next decade will be very different to those of the last. What therefore must also remain constant is our drive to continuously improve and innovate, be that on the pitch, commercially, in infrastructure development or in our service to fans and our community."
