Manchester City breaks £500m revenue barrier
Premier League champion Manchester City has announced record revenues of £500.5million in its 2017-2018 annual report.
City made a profit for the fourth consecutive year, with their balance sheet in the black to the tune of £10.4m, while the wage-revenue ratio sits at 52 per cent.
City, whose 2016-2017 revenue stood at £473.4m, have become only the second English club to break the £500m barrier after Manchester United in 2016 – a feat their neighbours repeated last year by bringing in £581.2m.
City is now the fifth club in Europe to hit revenues of half a billion pounds, along with Real Madrid, Barcelona, Bayern Munich and United, which is due to release its latest figures this month.
On the field, Pep Guardiola's team enjoyed a record-breaking campaign last time around, hitting 100 points as they lifted the Premier League with new best marks in terms of overall wins, consecutive victories, goals scored and goal difference.
City also won the Carabao Cup and reached the quarter-finals of the UEFA Champions League, where it lost to Liverpool.
"The 2017-2018 season will go down in history because of the incredible football we all witnessed," City chairman Khaldoon Al Mubarak said. "We are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them.
"Our aim is obviously to build on the achievements of the last year. We will always strive for more."
This month marked the 10th anniversary of Sheikh Mansour's takeover of City and Al Mubarak said: "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 10 seasons that came before."