Manchester City's 2022-23 Triumph: Record-Breaking Success

 Manchester City's 2022-23 Triumph: Record-Breaking Success

Erling Haaland of Manchester City receives a guard of honour from team mates and Pep Guardiola after breaking the Premier League scoring record during the Premier League match between Manchester City and West Ham United at Etihad Stadium on May 03, 2023 in Manchester, England(Image-Getty)

Manchester City announced impressive financial achievements in their annual report, revealing record-breaking profits and revenue following their first-ever treble-winning season. Majority-owned by Sheikh Mansour since August 2008, the club reported revenues of £712.8 million ($889.4 million) until June 2023, marking a substantial increase of £99.8 million (16.3%) from the previous season. They also recorded a record net profit of £80.4 million.

City's chairman, Khaldoon Al Mubarak, expressed the club's historic success, stating, "The 2022-23 season saw Manchester City scale new heights and set new benchmarks." The club experienced growth in all revenue streams, with commercial revenues leading at £341.4 million, followed by broadcasting at £299.4 million and matchday at £71.9 million. This resulted in a nearly doubled profit compared to the previous year, reaching £80.4 million.

Matchday revenue witnessed a 32% increase (£17.4 million), attributed to a 99% occupancy rate at the Etihad Stadium and additional home games across competitions. Broadcasting revenues rose by £50.4 million (20.2%) due to the club's success in reaching and winning the Champions League and FA Cup finals.

Player trading played a significant role, generating £121.7 million from transfers, marking a substantial 79.8% increase over the previous year. Manchester City's brand value of £1.51 billion secured the top spot on the Brand Finance Football 50 list, surpassing Real Madrid and Manchester United.

City's financial dominance extended to the Deloitte Football Money League, where they secured the highest revenues among European soccer clubs for the second consecutive year. Despite facing more than 100 breaches of financial rules from the Premier League, the club welcomed an independent commission to review the matter, citing "irrefutable evidence" in support of their position.

On the pitch, manager Pep Guardiola led the team to a third successive Premier League title, a thrilling 2-1 FA Cup final victory over Manchester United, and their first-ever Champions League title. The women's team, although finishing fourth in the Women's Super League, experienced an 84% increase in average attendance to 3,555 over the 2022-23 season.