On Nov. 15, 2023, Premier League powerhouse Manchester City announced their financial results for the 2022-2023 season, revealing a total income of £712.8 million, an increase of £99.8 million from the previous season. The club's profit reached £80.4 million.
The 2022-2023 season was one of the most successful in Manchester City's history. Under the leadership of Pep Guardiola, the team clinched the Premier League, the FA Cup, and the UEFA Champions League, achieving a treble that included defending their Premier League title and winning their first-ever Champions League.
Manchester City became the second team after Manchester United in 1999 to win the Premier League, FA Cup, and Champions League in the same season. The club's success in these competitions significantly boosted its revenue, with the Premier League title alone bringing in £160 million and the Champions League victory contributing £100 million.
In late October, Manchester United, another traditional Premier League giant, announced a record revenue of £648.4 million, surpassing their previous high of £627 million set in the 2018-2019 season. However, this record was short-lived as Manchester City's recent financial report has now set a new benchmark.
Manchester City is the first Premier League club to surpass the £700 million revenue mark in a year, closely approaching Real Madrid's record of €843 million, approximately £734 million.
The club's income primarily came from three sources: sponsorship and transfer income, broadcast rights sales, and matchday ticket sales. In the transfer market, Manchester City generated £121.7 million, an increase of over £50 million compared to the previous year. Notably, the transfers of Raheem Sterling and Gabriel Jesus brought in nearly £90 million, contributing significantly to this income.
Manchester City has been both strategic in selling and buying players. Despite spending over £1 billion on transfers since Guardiola's appointment, the club has brought in players of high value, including Erling Haaland, Calvin Phillips, and Akanji.
In August, the club signed 21-year-old Croatian star Gvardiol for €90 million, setting a record transfer fee for a center-back.
Broadcast revenues grew by over 20%, reaching £299.4 million. Additionally, matchday income saw a 30% increase.
Manchester City's wage and bonus distribution also set a Premier League record. Despite reducing their staff by 29 employees, the club paid £422.8 million in salaries to approximately 520 members, an increase of £69 million from the previous season and surpassing Manchester United's record of £384 million set during Cristiano Ronaldo's return year.
However, the high wage bill did not significantly impact the club's financial health. Last season, the wage bill accounted for 59% of total expenditures, only a 1% increase from the 2021-2022 season.