Manchester City made a loss for the first time in five years, and while revenue remains somewhat stable, the club provided an update on its ongoing legal case with the Premier League.
Manchester City recorded a loss of nearly £10m ($13.3m) in its 2024/25 financial statement while providing an update on the 115 financial charges placed against the club from the Premier League.
Total operating expenses for 2024/25 was £790m, an increase of £11m from the previous 2023/24 period.
The increase was largely driven by a £15.4m rise in other external charges, resulting in the club posting a £9.9m pre-tax loss for the first time since the Covid-impacted 2019/20 season. Overall, the club recorded an operating loss of £93.3m.
Man City’s poor performance on the pitch last season resulted in the club signing four new players in January 2025, including Omar Marmoush and Nico Gonzalez, and seven new players during the 2025 summer transfer window, such as Rayan Cherki and Gianluigi Donnarumma.
As a result, the club spent £352.9m on player signings in 2025, a significant increase on the £220m spent the year before. The club also made significantly less on player sales than in 2023/24. It made £139m in player sales the year before, compared to the drop to £95m in 2024/25.
Revenue: Slight drop but third highest in club history
Total revenue for the financial year ending 30 June, 2025, was £694.1m, a decrease from the £715m club record set during the last financial year.. Manchester City confirmed revenue from 2024/25 was the third-highest in club history.
The club attributed the drop in revenue to poorer performances on the field than usual, as the club failed to win a trophy for the first time since 2016/17.
As a result, matchday revenue dropped by £500,000 from £75.6m in 2023/24, to £75.1m in 2024/25, playing fewer games in the UEFA Champions League than last season and what the club described as “lower-stakes fixtures” towards the end of the Premier League season.
Last season’s Champions League play-off round exit also resulted in lower broadcast revenue, which was £278.6m, down by £16.1m from the £294.7m generated the season prior.
Broadcast revenue also dropped due to Manchester City being picked less by UK broadcasters during the Premier League season, but its involvement in the new format of the Club World Cup last summer provided the club with additional revenue for the three group stage games and knockout phase game it competed in.
Manchester City and other Premier League clubs this season are expecting an increase in broadcast revenue as the domestic broadcast rights agreement kicked in at the start of the 2025/26 season. The agreement is worth £6.7bn across four years.
“I believe that we may look back on this year as one that was pivotal for the ongoing and long-term strengthening of the club,” said Manchester City Chairman, Khaldoon Al Mubarak.
“There is no doubt that last season’s football results were less than we had hoped for. There are clear and understood reasons for that, including an unfortunate run of significant injuries, but seasons like this are an inevitable part of the game.
“In the world’s most competitive league, no team can expect to win every year, and I am confident that the lessons from the challenges that we have faced over the last 12 months will only make us stronger as a club; and make our future successes even more rewarding.”
Update on 115 charges case
Manchester City’s ongoing legal case against the Premier League over an alleged 115 breaches of the Premier League’s financial regulations continues to go on.
A three panel hearing which lasted three months concluded in December 2024 and a verdict will be reached by an independent commission.
However, within Manchester City’s recent financial statement, the process remains ongoing.
“As at the date of publishing these financial statements, the independent commission is still in the process of reviewing the matter,” said a club statement.
“Based on their evaluation of the group’s prospects and viability, the directors confirm that they have a reasonable expectation that the group will be able to continue in operation and meet its liabilities as they fall due within the 12 months following the approval of these financial statements.”
Reports surfaced in November 2025 that a delay in the verdict was in part due to the status of Premier League Chairwoman Alison Brittain. She was unanimously reappointed as Chair of the Premier League board on November 21, 2025.
