MANCHESTER CITY FC RETURNS TO PROFITABILITY

13 Jan 2022

By: Sport Industry Group

Manchester City FC generated record total revenues during the 2020-21 financial year in spite of a sharp fall in matchday income, helping to return the Premier League club to profitability.

In its annual report for the year to 30th June 2021, City said revenue was up 19% to £569.8m thanks to increased broadcasting income, due to the club reaching the UEFA Champions League final. The impressive increase was generated in spite of Covid-19 restrictions wrecking ticket sales over almost all of the season.

The figure was boosted by the inclusion of Premier League and Champions League fixtures from the delayed 2019-20 season that fell into the new 2020-21 financial year that began in July 2020.

Broadcast revenues were up 56% year-on-year to £297.4m, with matchday revenue down 98%. Commercial revenues increased 10% to £271.7m thanks to the addition of new partners such as Cadbury, AxiTrader and Noon.com, plus the renewals of long-term partnerships with Nissan, Unilever and Intel.

The club’s net profit in 2020-21 was £2.4m, compared to a £126m loss in 2019-20, owing to a combination of strong broadcasting and commercial growth and the inclusion of some revenues for games from the 2019-20 season. The club has net assets of more than £656m.

Chairman Khaldoon Al Mubarak attributed the results to the impact of the club’s long-term strategy to diversify and globalise revenues, on-pitch performances, and the support of its partners and shareholders.

He said, “We look ahead with the knowledge that we are going to come back stronger and more experienced, knowing that we have reached not only that benchmark but also a level of consistency which gives us great confidence for the future.”

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