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Manchester City announce record profits of £42m in 'most successful financial year ever'

Manchester City announce record profits of £42m as their commercial income soars with Khaldoon Al Mubarak hailing the club’s ‘most successful financial year ever’… but big-money arrivals Haaland and Phillips will be in next year’s figures

  • Premier League champions increased their revenues to £613m last season
  • Return of supporters to stadiums after Covid pandemic offered a major boost
  • City’s wage bill dipped slightly but doesn’t include this summer’s signings
  • Erling Haaland, Kalvin Phillips and Manuel Akanji were big name arrivals
  • Commercial revenue rose to £309.5m thanks to a stable of 46 sponsors

Manchester City chairman Khaldoon Al Mubarak lauded the club’s ‘most successful financial year’ after they announced record profits of £41.7million.

Accounting for last season, the Premier League champions increased revenues again to a record £613m during the first full period with supporters back in stadiums and away from Covid restrictions.

City believe that player trading, and using the City Football Group’s multi-club model, has contributed significantly in continuing to invest following the pandemic.

Manchester City announced record profits of £41.7million following another successful year

Manchester City announced record profits of £41.7million following another successful year

City chairman Khaldoon Al Mubarak celebrates the Premier League title with Pep Guardiola

City chairman Khaldoon Al Mubarak celebrates the Premier League title with Pep Guardiola

‘Our motivation to place the pandemic firmly behind us helped our talented people achieve the most successful financial year in the club’s history,’ Al Mubarak said.

‘The best players in world football are making us their destination of choice; our player trading was executed with great skill and positive financial outcomes, and our commercial partnerships continued to deepen and expand by geography and sector.’

City, who reached the semi-finals of the Champions League and FA Cup, saw their wage bill – taking in 549 employees – drop slightly to £353.9m.

They do, however, expect that to rise next year given the big-name arrivals of Erling Haaland, Kalvin Phillips and Manuel Akanji in recent months.

City’s commercial operation, which has recently been criticized for a failure to undertake proper due diligence on nominal deals with smaller companies, has continued to grow.

The summer signing of prolific striker Erling Haaland looks set to elevate City to new levels

The summer signing of prolific striker Erling Haaland looks set to elevate City to new levels

Forty-six global and regional partners are currently listed on City’s website, with commercial revenues last season rising to £309.5m, put down to the new sponsors and the return of concerts at the Etihad Stadium.

‘Football does not stand still and other leading clubs continue to evolve and develop,’ Al Mubarak added. ‘We therefore need to constantly challenge ourselves to improve upon what we have achieved.

‘This means innovating further in Manchester and beyond. Reimagining ourselves and how we move forward in Manchester and through City Football Group (CFG), the industry-leading, multi-club organization that Manchester City sits at the heart of.’

City’s recent summer transfer business – the capture of Haaland, significant sales of Raheem Sterling and Gabriel Jesus – are not included in the latest round of financial results.

Summer signing Kalvin Phillips, who cost £42m, will be included in next year's accounts

Summer signing Kalvin Phillips, who cost £42m, will be included in next year’s accounts

They have a potential £197m left to pay existing squad members and former clubs in additional transfer fees, signing-on payments and loyalty bonuses – with much dependent on success on the pitch. That was down by £30m from the previous year but is expected to rise next term.

‘Profits (in 2021-22) were also boosted by remarkable transfer activity,’ chief executive Ferran Soriano said.

‘The £67.7 million profit City generated from the transfer of players’ registrations took the total from the last five years above £250 million from this increasingly material source of income.

CEO Ferran Soriano (right) said City made £67.7m in profit from transfers in the 2021-22 results

CEO Ferran Soriano (right) said City made £67.7m in profit from transfers in the 2021-22 results

‘This will grow even further in 2022-23, boosted by an unprecedented post-season summer of transfer activity that generated the highest ever gross player receipts in Premier League history, both in a summer window and over a calendar year.

‘This includes the transfer of eight academy graduates, highlighting the growing success of the club’s academy in nurturing footballers who go on to have careers not only at Manchester City but also in the top leagues in professional football more broadly.’

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