Manchester City brought in a record £535.2m (Shs. 255,475,870,987) last season, this is according to the annual report for the year 2018/2019 that was released by the club.
This is the 11th year in which Manchester City have recorded growth revenues and this has helped them to close the gap between them and arch-rivals Manchester United who are the richest club in the English Premier League.
The figure is projected to rise again next year given City have already qualified for the knockout stages of the UEFA Champions League.
Payments from a £45m-a-year Puma kit deal will start to take effect which will inevitably help the club to grow even more financially.
United have already said their turnover will fall to between £560m and £580m this year because of their failure to qualify for the Champions League. And with shirt sponsors looking to cancel their contract with United, City could catch up on local rivals even faster.
Manchester City brought in a record £535 million (Shs 255,475,870,987) last season based on their annual report
The period covers a campaign when City’s men’s and women’s teams won a combined six trophies, including a clean sweep of English domestic honors for Pep Guardiola’s side.
“This outcome represents not just a season, but a decade of hard work,” said Blues chairman Khaldoon al-Mubarak. “The organization is now at a level of maturity that allows us to plan in multi-year cycles.”
City recorded a profit of £10.1m and a wage/turnover ratio of 59%.
Manchester City currently lying 4th in the English Premier League after they were beaten by a very good Liverpool side at Anfield.
For Pep Guardiola and the boys, it is now all about focusing on closing the gap between them and table leaders Liverpool who currently seem like they are running away with the title.
Manchester City is still facing defensive issues and they will depend much on their attacking players to win them the games if they are to avoid falling off the pace even further.
Author: Moses Echodu
Moses is a freelance writer for Newslibre and Programs Manager at the Craft Silicon Foundation. He loves writing about sports, politics and news around the globe and Inspiring new young people!!