Manchester City has unveiled a groundbreaking financial report for the 2022/23 season, showcasing a staggering revenue of £712.8 million. This marks the highest earnings ever recorded by any Premier League club in a single campaign. The substantial increase, nearly £100 million more than the previous season’s earnings, coincided with the men’s team achieving a remarkable Premier League, FA Cup, and Champions League treble – a feat accomplished by only one other English team.
The disclosed revenue surpasses the previous Premier League record set by Manchester United just last month, which amounted to £648.4 million. Although Barcelona’s disputed €990 million (£861 million) from the 2018/19 season remains the world record, Manchester City’s financial achievement is noteworthy.
Alongside the surge in revenue, the club announced a nearly doubled profit year on year, rising from £41.7 million in 2021/22 to £80.4 million in 2022/23. Chairman Khaldoon Al-Mubarak hailed it as the “greatest football and commercial year” in the club’s history, attributing the success to a sustained approach and philosophy since Sheikh Mansour’s takeover in 2008.
Get Instantly Update By: Joining Our Whatapps and Telegram Channel
Al-Mubarak hinted at continued success, emphasizing their commitment to building upon proven strategies and practices. He expressed a dedication to constant innovation to reach new levels of performance on and off the field. Despite the question of how to surpass recent triumphs, Al-Mubarak affirmed their intention to “double down” on what has been effective and set ambitious new goals and strategies for the benefit of the club, its communities, stakeholders, and most importantly, the fans.
“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.”
One thing that continues to have over City are the charges for 115 breaches of the Premier League’s financial rules between 2009 and 2018. An independent commission is overseeing the case and could issue sanctions ranging from a fine and points deduction to Premier League expulsion.
City were fined £49m by UEFA for alleged Financial Fair Play breaches as far back as 2014. In 2020, they were then issued a ban from European competitions for two years, a sanction that was eventually lifted on appeal to the Court of Arbitration for Sport.
City’s finances have also been the subject of a series of explosive reports from German publication Der Spiegel since 2018. But the club have always denied financial wrongdoing and in this instance have submitted legal challenges to the Premier League’s charges.