Manchester City Break 500 Million Pounds Income Barrier

Frank
October 13, 2018
27 Views

English champions Manchester City posted record revenues of 500.5 million pounds ($652 million) in a record-breaking 2017/18 campaign on the pitch as Pep Guardiola’s men romped to the Premier League title amassing 100 points. City reported profits of 10.4 million pounds, a fourth consecutive year of profitability, with wages to revenue ratio falling to 52 percent.

“Our journey is not complete and we have more targets to fulfil,” said chairman Khaldoon Al Mubarak, who recently celebrated a decade since an Abu Dhabi-backed takeover of the club transformed City’s fortunes.

“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.”

Before Sheikh Mansour’s takeover, City’s revenue was a mere 87 million pounds for the 2007/08 season.

Huge losses of over 584 million pounds followed during the first six years of their ownership due to massive investment in the playing squad and facilities, including the 200 million pounds Etihad Campus training ground.

However, surging television revenues, commercial sponsors and regular Champions League football mean that City now trail only local rivals Manchester United and European powerhouses Barcelona, Real Madrid and Bayern Munich for income, according to football finance specialists Deloitte.

Advertisement

Advertisement

Sports

More

Frank’s source: https://sports.ndtv.com/english-premier-league/premier-league-manchester-city-break-500-million-pounds-income-barrier-1916248

 

You may be interested

Why Net Neutrality Will Be a Campaign Issue in 2018
About Business
0 shares0 views
About Business
0 shares0 views

Why Net Neutrality Will Be a Campaign Issue in 2018

Frank - Nov 21, 2018

If you're sick of hearing about net neutrality, we've got bad news: The issue's only going to get bigger. Now…

Arcus Biosciences closes $107M Series C round as industry hunts for blockbuster immunotherapy combinations
About Health
0 shares1 views
About Health
0 shares1 views

Arcus Biosciences closes $107M Series C round as industry hunts for blockbuster immunotherapy combinations

Frank - Nov 20, 2018

Imagine cancer as a fugitive, hiding in a rundown warehouse. The police (aka the immune system) patrol the surrounding streets,…

Health Technology Briefs from the ITF Demo Floor
About Health
0 shares3 views
About Health
0 shares3 views

Health Technology Briefs from the ITF Demo Floor

Frank - Nov 20, 2018

Medgadget was recently invited to attend the imec Technology Forum (ITF) conference in Antwerp, Belgium. One of the highlights of…

Leave a Comment

Your email address will not be published.

17 + fifteen =