Manchester City finished atop the Premier League standings last season for the fourth time in five years, posting the second biggest goal differential in the league’s three-decade history. It was a banner year off the field as well.
The Sheikh Mansour-owned team posted record revenue and profits in its year-end results, which were released Monday. Revenue rose 8% to £613 million, or $815 million based on the average exchange rate over the 12 months, topping last year’s record. Man City finished with more revenue than its crosstown rival, Manchester United, for the first time during the 2020-21 season. It repeated the feat last season, after the Red Devils finished at $776 million.
“The 2021-22 season was representative of the football standards that we have set ourselves as we continued to deliver on our ownership’s vision and plans,” Ferran Soriano, Manchester City CEO, wrote in the club’s annual report.
Net income for Man City was £41.7 million, or $55.5 million, compared to £2.4 million for 2020-21 and a £126 million loss the prior season. The results for the prior two years were severely impacted by COVID-19 and fan-capacity restrictions. The 2021-22 profit was more than double the previous record.
The prior year results were skewed by the lack of fans at Etihad Stadium—25 of 26 home matches were played with no fans—and broadcasting revenue that was pushed into the 2020-21 fiscal year by delays to the 2019-20 season from COVID. Matchday revenue was $72 million, versus less than $1 million the prior year.
Commercial revenue remains the biggest source of income for the club, and it increased 14% to £310 million or $412 million. The team added 12 new partners, including Qualtrics, Emirates Palace, Sony and Masdar. It also renewed agreements with Nissan, Wix and Unilever. The total also benefited from the return of concerts at Etihad.
Broadcasting revenue fell 16% to £249 million, or $331 million. The dip was a result of 13 fewer home and away games across all competitions. Champions Leagues winnings, another component of broadcast revenue, also declined with Man City losing in the semifinals after making the finals in 2021.
Manchester City was valued at $4 billion last year in Sportico’s Premier League Valuations, third behind United ($4.65 billion) and Liverpool ($4.14 billion). It is the cornerstone franchise of City Football Group, which includes 12 clubs around the world.
The club currently sits in second in the Premier League standings one-third of the way through the season, two points behind Arsenal.