Manchester City have announced club record revenues of £535.2 million (€624 million), an increase of about 6 per cent. The champions are confident this will rise again next year because of a lucrative new kit deal with Puma.
City posted the results in their annual report for 2018-19, which also shows that wages rose from 52 per cent to 59 per cent of turnover, having spent £259.2 million (€302.2 million) in 2017-18, compared with £315.6 million (€368 million) last year.
Manchester United's revenue for 2018-19 was £627.1 million (€731.2 million), the Premier League's highest, but as the club are not in this season's Champions League it may drop markedly. This means City may come close to overtaking them from their current second place in 2019-20, with the Puma deal worth more than £600 million (€699 million). When United published results for their first quarter of the year on Monday, revenue was £135.4 million (€157.8 million).
Strategic planning
City’s chairman Khaldoon al-Mubarak said: “The organisation is now at a level of maturity that enables us to plan on multi-year cycles both in terms of our management of squads and more widely across the business.
“This strategic planning has allowed us to create an environment in which continued on-pitch success is both possible and likely, and financial sustainability is a reality.”
City secured an unprecedented domestic treble last season and have won four Premier Leagues in the past eight seasons. Al-Mubarak added: “To finish a season holding six domestic men’s and women’s trophies is an outcome that represents not just a season, but a decade of hard work.”
Chief executive Ferran Soriano believes the success can be continued: "We can all be sure that we will be focused, resilient and consistent in our approach. Victories are not accidents – they are the product of careful planning, consistent hard work and the acknowledgment of the need to stay humble and hungry."
City believe Brexit could have material effect on the club. "Management continue to monitor the situation surrounding Brexit and any potential financial impact from this process," a statement said.
Transfer ban
Meanhwile, Chelsea are unlikely to hear until December whether their two-window transfer ban will be overturned by the court of arbitration for sport, which is set to hear the case on Wednesday.
The club are unable to make signings until February 2020 after they were found guilty by Fifa of breaking transfer regulations relating to minors. They were also fined £460,000 (€536,000) and failed to overturn the decision when presenting their case to Fifa’s appeals committee in April.
Chelsea have taken the case to CAS and their hopes of making signings in January rest on winning their appeal. However, there will not be an immediate ruling on the case. Although the hearing concludes on Wednesday, the arbiters will deliberate and then prepare an award containing their decision. It is likely a decision will be announced in December. Chelsea declined to comment on the appeal.
– Guardian
