Manchester City has shattered records once again, becoming the first British club to spend over £400 million ($498m) on annual wages. The club’s Annual Report for the 2022-23 season reveals their historic Treble-winning campaign, which saw them clinch the Champions League, Premier League, and FA Cup titles. With record revenues of £712.8m, an increase of £99.8m ($124m) from the previous year, Manchester City continues to dominate both on and off the pitch.
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Unmatched Financial Prowess
Despite ongoing disputes over alleged breaches of financial fair play regulations, Manchester City’s wage bill soared to £422.9m last season. This significant increase was due to the addition of star striker Erling Haaland, among others, as well as player bonuses following their triumphant campaign. In contrast, rivals Manchester United reported a wage bill of £331.4m, nearly £91.8m lower than City’s.
Unprecedented Revenues
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Manchester City’s meteoric rise is not just limited to wages. Their record-breaking revenues of £712.8m have eclipsed the previous British record set by Manchester United, who reported £648.4m just last month. These astonishing figures have cemented Manchester City’s status as the top English club in terms of financial prowess, as well as propelling them to the top of the Brand Finance Football 50 list with a value of £1.51 billion. The report attributes this success to the club’s decade of dominance and their unparalleled revenue generation.
Diverse Revenue Streams
Manchester City’s financial success is underpinned by a diversified revenue portfolio. Commercial revenues reached £341.4m, followed by broadcast revenue at £299.4m, and matchday revenue at £71.9m. The club experienced growth across all these sectors, contributing to a record profit of £80.4m, nearly double the previous year’s figure. The increase in matchday revenue can be attributed to a 99% occupancy rate at the Etihad Stadium and four additional home games played across competitions. Similarly, broadcasting revenues climbed by £50.4m, buoyed by their success in reaching and winning the Champions League and FA Cup finals.
Unrivaled Dominance
In addition to their financial accomplishments, Manchester City’s on-field achievements have also been remarkable. They completed the treble last season, a feat accomplished for the first time in their history. This momentous achievement, coupled with their revenue dominance, secured Manchester City’s place at the summit of the Deloitte Football Money League, ahead of perennial powerhouse Real Madrid.
FAQs
Q: How much did Manchester City’s wage bill increase last season?
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A: Manchester City’s wage bill rose by £69m, reaching a staggering £422.9m.
Q: Which club held the previous British record for revenues?
A: Manchester United set the previous record with revenues of £648.4m.
Conclusion
Manchester City’s extraordinary financial success demonstrates their unrivaled dominance in English football. Their record-breaking wages and revenues, coupled with their on-field achievements, have propelled them to unprecedented heights. With a brand value of £1.51 billion and the largest revenue of any European club, Manchester City has firmly established itself as a force to be reckoned with. As they continue to break barriers, Manchester City’s legacy in football history is secured.
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