The expansion of the club’s commercial portfolio saw Manchester City report a third consecutive year of record revenues for the 2023/24 financial year.
Posting its financials for the year ended 30 June 2024, Manchester City increased its revenue to £715m – £2.2m higher than last season – achieving a net profit of £73.8m. The club has posted a profit for every year since the 2014/15 season apart from the COVID-impacted 2019/20 season.
Reporting positive profit is essential for Premier League clubs due to the tightening of the league’s Profit & Sustainability Rules (PSR), which mandate that no club is allowed to post losses of more than £105m over a three-year period.
Manchester City’s three primary income sources – commercial, broadcast and matchday – all remained strong, and made up a solid percentage of its overall revenue.
Matchday revenue brought in £75.6m, an increase of £3.7m from last season, from 26 home games throughout the 2023/24 season. Matchday revenue also increased despite playing less than the 31 home fixtures the club hosted during the 2022/23 season.
Whilst matchday revenue is a core revenue driver for all English football clubs, there has been a segment of Manchester City fans who have voiced criticism against the club over the rises in ticket prices over the past several years.
Revenue brought in by broadcasting and media amounted to £294.7m, a decrease of £4.7m from last season. The club cited this dip due to winning the UEFA Champions League the year prior and its exit in the same competition at the Quarter-Finals stage this season, missing out on an additional three games of broadcast revenue.
Manchester City and the rest of Premier League clubs are expected to increase their broadcast revenues once the English top-flight’s new £6.7bn broadcast deal kicks-in at the start of the 2025/26 season.
Lastly, the club announced revenues in other commercial activities generated £344.7m, an increase of £3.3m from the year prior. Over the past year, the club has inked deals with Corpay, Betway, and Kelloggs, complementing pre-existing sponsorships with Etihad, Puma and OKX.
Manchester City Chairman, Khaldoon Al Mubarak, said: “Our constant ambition to target and achieve the unprecedented is a mark of the organisation that we have become.
“On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning and a shared belief in the collaborative learning culture that we have built.”
Despite a recent decline in form on the pitch, the club celebrated winning a fourth Premier League title this year, becoming the first Premier League club to do so. The club also celebrated its player Rodri for becoming the club’s first-ever winner of the prestigious Ballon d’Or award.
The most recent financial report may be the last before Manchester City finds out its future over the 115 charges – which has been upgraded to 130 – placed against them by the Premier League in February 2023 over various alleged financial fair play violations.
Most recently, the final hearing on the charges has finished and a decision is expected to be made in Spring 2025.
