Manchester City have announced a second consecutive bottom line profit of £20.5 million for the 2015-16 season, an 11% overall increase on the previous season. The Club generated £391.8 million in revenues last season, boasting growth in all three revenue categories.
– Matchday revenue increased by 21% to £52.5 million.
– Broadcasting revenue increased by 10% to £161.4 million.
– Commercial revenue grew 3% to £177.9 million.
Average attendance increased by more than 8,000 to 54,041 following the expansion of the Etihad Stadium, leading to the huge 21% increase in matchday revenues.
Manchester City continues to operate with zero debt and net assets of £677m, with a healthy wage/revenue ratio of 50% in 2015-16.
Chairman Khaldoon says the 2015-16 season marked the end of an important phase and the beginning of the next exciting chapter, stating, “I believe the 2016-17 season represents the beginning of a critical new phase in the evolution of Manchester City.”
CEO Ferran Soriano revealed that new investors China Media Capital (CMC) injected US$400 million into the City Football Group, which is now valued at an incredible US$3 billion.
You can read the 2016 annual report here with full financial details and other information covering the last year.