Manchester City: Treble winners post Premier League and club record revenues and profits

Manchester City beat Inter Milan in Istanbul five months ago to end their long quest to win the Champions League

Manchester City have posted a Premier League record revenue of £712.8m for the 2022-23 financial year.

This exceeds the record £648.4m posted last month by Manchester United and is a £99.8m rise on the previous year.

City's profit of £80.4m is up from last year's club record of £41.7m.

The figures come on the back of a season in which they became the second English club after Manchester United in 1999 to win the Treble of Premier League, FA Cup and Champions League.

The revenue is less than the €990m (£861.43m) Barcelona recorded in 2019, although the validity of this has been challenged due to the 'exceptional' sums that were added to the overall revenue figure.

"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?'," said City chairman Khaldoon al-Mubarak.

"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."

The club's financial statement reveals increases in all major revenue streams. Broadcast revenues increased 20.2% to £299.4m. City say this was "primarily" due to their success in the Champions League and FA Cup.

The report also refers to "a number of risks and uncertainties which could have a material impact on the club's performance" including performance of the first team, regulatory changes and the 115 financial charges issued against them by the Premier League in February.

City were charged with alleged breaches of the league's financial rules from 2009 to 2018. They were also accused of not cooperating since the investigation began in December 2018.

The independent commission which is overseeing the case can impose punishments ranging from a fine and points deduction to expulsion from the Premier League.

The club has always denied financial wrongdoing.

"In February 2023, in response to the charges, the Club issued a public statement that it welcomes the review of this matter by an independent Commission, to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position," the report says.

City's wage bill rose by almost £70m to £422.89m and the club is committed to in excess of £262m in "transfer fees, signing on fees and loyalty bonuses" if set conditions are met.

The club made £121.7m profit on player trading in the financial year of 2022-23 and says total transfers conducted after 30 June 2023, which included the arrivals of Jeremy Doku, Mateo Kovacic, Josko Gvardiol and Matheus Nunes, plus the departures of Cole Palmer, Riyad Mahrez, Aymeric Laporte and James Trafford cost the club approximately £84m.