Manchester City Finances 2023/24

Caesar On A TV Screen

Manchester City’s 2023/24 accounts covered another successful season, when they became the first team to win the Premier League four years in a row. This was the club’s sixth title in seven years, which is good going by anyone’s standards.

Chief executive Ferran Soriano commented, “Our fourth consecutive Premier League title was an achievement that took Manchester City to a place no other English club has ever been.”

However, they were defeated by local rivals Manchester United in the FA Cup final and were eliminated by Real Madrid in the Champions League quarter-finals, so they were unable to match the achievements of the previous season, when they won a historic treble. That said, they were victorious in both the UEFA Super Cup and FIFA Club World Cup.

Profit/(Loss) 2023/24

City’s on-pitch success was replicated off the pitch, as they delivered a sizeable £74m pre-tax profit, albeit down from the prior year’s £80m. Revenue slightly improved by £2m from £713m to £715m, which was the highest ever generated in England, while profit from player sales rose £17m (14%) from £122m to £139m, a new club high.

However, this was more than offset by operating expenses growing £26m (3%) from £754m to £780m, while other operating income fell £1.0m to £4.5m.

There was growth in match day, which rose £4m (5%) from £72m to £76m, and commercial, which increased £4m (1%) from £341m to £345m. However, broadcasting fell £4m (2%) from £299m to £295m, due to a less successful run in the Champions League.

This was also a factor in the reduction in the wage bill, which dropped £10m (2%) from £423m to £413m, but player amortisation increased by £20m (14%) from £145m to £165m. There was also a steep increase in other expenses, which rose £17m (9%) to £190m.

Only two Premier League clubs have so far published accounts for 2023/24, so comparisons with the others are based on the latest available figures from the 2022/23 season.

However, it is clear that City’s £74m pre-tax profit is an excellent performance, only surpassed by Brighton’s £133m in the previous season. This is very different from the large losses reported elsewhere, especially Manchester United’s £131m last season, while no fewer than ten clubs lost more than £50m in 2022/23.