Manchester City Is a Mess. It’s Still Breaking Revenue Records

A lot is not going well for traditional Premier League power Manchester City, but the club’s finances are still in unprecedented territory.

The four-time defending Premier League champions reported Friday club-record annual revenue of $901.7 million for the fiscal year that ended June 30, up by 0.3% from the prior year. Net profits fell about 8% to $93 million but still extended what is now a decade of consistent annual profit with the exception of the 2019–2020 season impacted by the COVID-19 pandemic. 

The robust totals arrive despite a run of tougher news for the club, including just one win in the last 10 matches that has left the team in fourth place so far this season, growing fan unrest over ticket prices, and a still-active dispute with the Premier League over alleged breaches of financial fair play rules. The latest run of seven losses, two draws, and a single victory since late October is the worst stretch under manager Pep Guardiola since he started with Manchester City in 2016.

“Our constant ambition to target and achieve the unprecedented is a mark of the organization that we have become,” said club chair Khaldoon Al Mubarak. “On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning and a shared belief in the collaborative learning culture we have built. This organizational approach is now part of our DNA.”

Bigger Picture

These types of financial reports are a trailing indicator on a club’s health, but in the case of Manchester City, still show its relative strength across global soccer. The club reported increases in its match-day and commercial activities, and in particular, a record profit of $175.3 million on player sales in the transfer market, up 15% from the previous year. Broadcasting revenue fell 1.6% to $371.7 million, due primarily to the club bowing out in the quarterfinals of this year’s UEFA Champions League following a title in 2023. 

Additionally, Manchester City says it had more than 10 billion video views across its various social media channels during the year, most in the Premier League.  

The Premier League financial dispute, meanwhile, still presents potential future issues, and the club cited the case in the “Risks and Uncertainties” section of its annual report. A trial that began in September with 115 charges of alleged breaches between 2009 and 2018 has now concluded, and a decision is expected in the spring, with appeals beyond that likely. Potential penalties range widely from fines and standings points deductions to relegation from the Premier League.

“[The club] welcomes the review of this matter by an independent commission to impartially consider the comprehensive body of irrefutable evidence that exists in support of its decision,” the report read in part.