The Blues were £11 million in the black 12 months ago – their first profit of the Sheikh Mansour era – and improved their accounts over the 2015-16 season
Manchester City have posted profits of £20.5 million in their latest financial accounts, the eighth consecutive season that the club have announced an improved financial position.
City announced a profit for the first time during the Sheikh Mansour era this time last year, when their accounts were £11m in the black.
The increase across the 2015-16 season is thanks in no small part to City’s run to the Champions League semi-final, which helped ensure broadcast revenue rose 19 per cent to £161.4m.
The expansion work on the Etihad Stadium, which boosted domestic attendances, also helped matchday revenue rise by 21% to £52m, while commercial revenue grew 3% to £177.9m.
City’s total revenue across the season was £391.8m, a total increase of 11% on the previous results.
“Manchester City has now reached a level of sporting and commercial maturity that allows one to feed the other”, City chairman Khaldoon Al Mubarak said in a statement.
“I believe the 2016-17 season represents the beginning of a critical new phase in the evolution of Manchester City. We know that we have the playing, coaching and off-field capabilities at our disposal to achieve great things in English and European football in the years ahead.”
City also have assets of more than £677m and operate with zero financial debt.