Manchester City has reported record revenues of £613 million and record profits of £41.7 million in its 2021/2022 financial report.
The profits of £41.7 million recorded by the club is more than double the previous Club record.
The report noted that several factors contributed to the English soccer’s top-flight club record-breaking financial results and continued profitability, including fans returning to the Etihad Stadium and the increase of the Clubs’ wider commercial revenues.
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.
When speaking about the business performance, the Club’s Chairman, Khaldoon Al Mubarak, stated: “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 accomplish so much more.”
Chief Executive Officer, Ferran Soriano, echoes these sentiments: “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.”
In the report, the Chairman puts the 2021/22 financial performance into strategic context: “In 2008 we gave ourselves the target of exceeding the benchmarks that had been set by others within football; and in doing so, to also exceed the new standards that we believed leading clubs would achieve in the time it would take us to catch-up. 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.”
