Man City put Man Utd to shame as they announce record-breaking revenues and massive profits
MANCHESTER CITY struck a blow over neighbours United ahead of Sunday’s derby as they revealed their latest financial results.
The Etihad giants generated record breaking revenues of £715 million as Pep Guardiola led them to a fourth straight Prem title in 2023/4.
And that meant they returned healthy profits of £73.8 million – slightly down on the £80.4 million they posted when winning the treble.
The figures are in stark contrast to those across town at United which were revealed back in September.
The Red Devils posted a huge loss of £113 million despite generating a record revenue of £661 million.
They have now lost more than £370 million over a five year period but remain confident of being in line with the Premier League’s profit and sustainability rules.
New part owner Sir Jim Ratcliffe is looking to cut costs across the club to ensure they are not in danger of breaking the financial rules.
Meanwhile City have also generated £139 million from the sale of players such as Julian Alvarez, Joao Cancelo and Taylor Harwood Bellis.
In the previous 12 months that figure was £121.7 million – meaning they have raked in more than £260 million in the past two years from selling their stars.
That should be good news for manager Guardiola as he looks to spend in the January transfer window – with a new defensive midfielder top of his wishlist.
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Chairman Khaldoon al Mubarak and chief exec Ferran Soriano welcomed the latest figures.
Khaldoon said: “Our constant ambition to target and achieve the unprecedented is a mark of the organisation that we have become.
“On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning.
“This organisational approach is now part of our DNA. It is a product of the unwavering focus on constant improvement, in every aspect of the organisation.”
Chief exec Ferran Soriano said: “Our fourth consecutive Premier League title was an achievement that took Manchester City to a place no other English club has ever been.
“Winning the treble the previous year did not generate any complacency in our teams on or off the pitch.
“We understand very well that our relentless pursuit of beautiful football, operational excellence and constant innovation requires hard work and resilience.”
The latest figures come out as City await their fate over 115 allegations of financial wrong-doing levelled at them by the Premier League.
A three month hearing held in London has now concluded and the three man panel are going through their findings.
An outcome is expected to be known before the end of the season – but both sides would have the right to appeal.