Manchester City have announced profits for the fourth year running in their annual financial report, posting total revenues of £500.5million and a profit of £10.5million.
These results make City only the second English club ever to top £500million in revenue and with a healthy wage to revenue ratio of 52 per cent, the club has never been in a stronger financial position.
The revenues are a 5.41 percent – £27.1million – increase on the previous year’s results.
Chairman Khaldoon Al Mubarak spoke about City’s excellent results on the pitch, under the leadership of Pep Guardiola, and off the pitch, but said there are still targets to reach.
“The 2017-18 season will go down in history because of the incredible football we all witnessed,” said Khaldoon.
“We are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them.
“Our aim is obviously to build on the achievements of the last year. We will always strive for more.
“Our journey is not complete and we have more targets to fulfil.
“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.”