MANCHESTER: Premier League champions Manchester City have much to rejoice not just on the field, but off it as well. In its annual report, the club posted revenues of £500.5 million ($657 million) which is an all-time record and marked a whopping 44% increase in revenue since 2013.
Entering into its fourth consecutive year of profit, City recorded an impressive £10.4 million ($13.65 million) for the 2017-18 financial year as its wage-revenue ratio has turned out to be 52%.
It can be fair to say that the club’s fortunes turned dramatically ever since Sheikh Mansour of Abu Dhabi secured its ownership rights back in September 2008. Exactly a decade since that development, the club also published ‘Decade in Data’, a statistical report outlining the club’s 10-year transformation.
In the report, Man City chairman Khaldoon Al Mubarak noted that, “most of the developments visible today are the result of a carefully crafted strategy- one in which organic evolution has also been allowed to thrive”.
The club’s CEO Ferran Soriano was extremely pleased with the results and commented, “Our aim is obviously to build on the achievements of the last year. We will always strive for more. Our journey is not complete and we have more targets to fulfil. There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the ten seasons that came before.”
