Man City Announce Record-Breaking £712m In Revenue For 2022/2023

Man City posted a Premier League record £712 million ($887m) in revenue for the 2022-23 season, along with a historic wage bill.

The club had its most prosperous season to date last summer, capping an incredible triple under Pep Guardiola with a first-ever Champions League victory in June. City disclosed on Wednesday that this accomplishment off the pitch mirrored this grandeur. The revenue figures cited above surpass the previous record of £648 million ($808 million) set by Manchester United last month. They also reflect an increase of £99.8 million ($124 million) over the same period last year.

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However, the English records went beyond the club’s earnings. The 2022–2023 season also witnessed a high profit for the Premier League, and consequently for the club, of £80.4m ($100m), an increase above the £41.7m ($52m) profit from the previous year. In addition, City’s wage cost has skyrocketed to a whopping £423m ($527m) from £70m ($87.3m), mostly due to the recruitment of star striker Erling Haaland. In the history of English football, this sum is the highest.

Club chairman Khaldoon al-Mubarak said in a statement: “In the aftermath of the Champions League win in Turkey and the completion of ‘The Treble’ the question I was asked most often, was ‘How do you top that?’. The answer is by doubling down on the proven philosophies and practices that have brought us this success and to challenge ourselves to continue to constantly innovate in order to achieve new levels of performance, on and off the field.

“We will continue to question all the industry norms, evaluate our successes and learn from any failures. Success today simply means further investment for tomorrow. Our financial health and on-field success mean everyone connected to Manchester City can look forward to the future with excitement. Our collective achievements give me huge confidence that together we can accomplish even more in the years to come.”

Of course, the team is still under investigation for numerous infractions of the Financial Fair Play regulations set forth by the Premier League. In reference to “a number of risks and uncertainties which could have a material impact on the club’s performance,” the most recent report makes reference to this particular issue. Despite the 115 allegations brought against them back in February, City maintains that they have done nothing wrong.