 "Defending Premier League champions Manchester City announce record revenue for 2023-24 season")
There was some good news in store for Manchester City fans in the middle of what has been a disastrous campaign so far with the defending Premier League champions announcing record revenue for the previous season.
With their triumph in the 2023-24 season, in which Pep Guardiola’s side won an unprecedented fourth consecutive title, City earned £715 million ($903 million) till June 30 – a rise from the £712.8million that they had earned in the previous season.
However, profits dipped from £80.4 million in City’s treble-winning 2022-23 campaign to £73.8 million last season.
They experienced a drop in broadcast income due to Guardiola’s side failing to repeat their run to win a first Champions League crown in 2023.
City’s current investments include a £300 million expansion of the north stand of the Etihad Stadium.
Chairman Khaldoon Al Mubarak said in the club’s annual report: “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 and a shared belief in the collaborative learning culture that we have built.
“Our focus remains on further evolution and growth and therefore further value creation in all aspects of our business.”
Beaten by Juventus in the Champions League on Wednesday, City face Manchester United in the Premier League on Sunday as they try to halt a damaging run of one win in 10 games in all competitions.
Also Read | Five reasons why defending champions Manchester City have struggled this season
They are in danger of failing to make the Champions League last 16 and sit eight points behind Premier League leaders Liverpool after their shocking slump.
City are awaiting a decision on the 115 charges of alleged breaches of financial rules brought against them by the Premier League.
The club, who have strongly denied the charges, could face a points deduction or even relegation from the top-flight if they are found guilty.
With AFP inputs
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