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Tuesday / February 18.

Manchester City break £500m revenue barrier

Abu Dhabi: Manchester City Football Club released their Annual Report for 2017-18 on Friday, announcing revenues of more than £500 million (Dh2.403 billion) for the first time in City history, and the 10th successive year of improved financial performance. City have also entered their fourth consecutive year as a profitable business, posting a profit of £10 million.

It was a record-breaking year for Manchester City on the field too, with performances by the men’s team breaking more than 25 records including most goals scored and most games won, as well as being the first English Premier League team in history to reach 100 points.

In the report, Chairman Khaldoon Al Mubarak took the opportunity to reflect on the club’s development since 2008 — when the club were purchased by the Abu Dhabi United Group — noting that “most of the developments visible today are the result of a carefully crafted strategy — one in which organic evolution has also been allowed to thrive”.

He goes on to highlight Manchester City’s positive financial performance over the past season, pointing to the breaking of the £500 million barrier for the first time and the posting of a profit in excess of £10 million. “The 2017-18 season will go down in history because of the incredible football we all witnessed,” he said. “We are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them.”

Manchester City Chief Executive Ferran Soriano said: “I am proud of our performances and of the trophies won, but equally recognise the process by which they were achieved. We recognise that the sporting challenge continues. Consistent domestic success and further development in the Champions League will be our focus in 2018-19 and the seasons to come.”

Khaldoon added: “Our aim is obviously to build on the achievements of the last year. We will always strive for more. Our journey is not complete and we have more targets to fulfil. There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the ten seasons that came before.”

The Club also published a “Decade in Data”, following Manchester City’s 10-year transformation through statistics following acquisition of the club in 2008 Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

This article first appeared on GulfNews.com