MANCHESTER, England — On Friday, Manchester City announced that it achieved record revenues amounting to 715 million pounds (approximately $903 million) for the fiscal year 2023-24.
This figure marks an increase of 2.2 million pounds (around $2.78 million) from the previous year; however, profit figures showed a slight dip, totaling 73.8 million pounds (about $93.2 million), down from 80.4 million pounds (approximately $101.5 million).

In a statement, the club noted that its three key revenue streams—commercial ventures, broadcast agreements, and matchday earnings—remained robust, showcasing the effectiveness of the club’s long-term strategic vision.
Since being acquired by the Abu Dhabi ruling family in 2008, City has transformed into a powerhouse in English football, investing significant resources to recruit some of the world’s top players and appointing Pep Guardiola as manager in 2016.

Last season, City won its fourth consecutive Premier League title, solidifying its status by claiming the championship in six of the past seven years.
Despite its financial success, the team is currently facing challenges both in domestic competitions and the Champions League.
Furthermore, this financial report emerges as the club is involved in a hearing regarding alleged financial misconduct.
The Premier League has put forth over 100 charges against the defending champions, covering a nine-year span in which City has been striving to assert its dominance in English football.

The league accuses City of having provided inaccurate information about its financial dealings between 2009 and 2018.
An independent commission commenced hearings in September, with a ruling anticipated sometime next year.
Manchester City firmly denies these allegations.