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Last Updated : Sep 16, 2018 06:17 PM IST | Source: Moneycontrol.com

New high for Manchester City as club records £500 million in revenues

Manchester City has announced record revenues of 500.5 million pounds for the 2017-18 season.

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Manchester City has followed rival Manchester United to become the second premier league club to breach the 500 million pound ($655 million) revenue mark.

The club has reported profits for four consecutive years and on September 13, it announced a turnover of 500.5 million pounds.

It has flourished on field too and its performance in the 2017-18 season is testimony to it. The team accumulated 100 points and scored 100 plus goals on its way to win the league title. Manchester United which came second in the league could muster only 81 points. The team also won another domestic trophy in the form of the League Cup, but the coveted Champions League trophy is still missing from the team’s cabinet. The club has managed to win nine other trophies in last ten years.

Manchester CIty EPL CLub

"Consistent domestic success and further development in the Champions League will be our focus in 2018-19 and the seasons to come," Manchester City CEO Ferran Soriano said, according to CNBC.

Almost 10 years ago, the club was taken over by Sheikh Mansour of the Abu Dhabi United Group royal family. The latest financial report released by the club reveals that Sheikh Mansour Bin Zayed Al Nahyan has pumped in more than 1.3 billion pounds directly into the Etihad outfit, discounting the initial amount of around 150 million pounds paid to purchase the club from former Thai Prime Minister Thaksin Shinawatra.

The last five years has witnessed a flurry of commercial interests with sports drink Gatorade, betting company Marathonbet and dating app Tinder signing on as new partners.  This added 80 million pounds in City's revenues.

Despite all the on field and off filed success, the City management believes that the club has a long way to go.

"Our journey is not complete and we have more targets to fulfil," Chairman Khaldoon Al Mubarak said. "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," he added.
First Published on Sep 16, 2018 06:17 pm
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