Manchester City entering ‘critical new phase’, says club chairman

Manchester City are entering a “critical new phase” after achieving record revenues for the 2015/16 year, according to chairman Khaldoon Al Mubarak.

During the 12 months to May 31 2016, the club’s turnover rose year on year by 11.4% to hit £391.8m. On that figure City made a profit of £20.5m, while their wage-to-revenue ratio dropped to 50%.

According to BBC Sport, Khaldoon said: “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.”

MCFC’s matchday revenue in their last financial year stood at £52.5m, up by 21% in comparison to 2014/15. The club’s broadcasting revenue, meanwhile, grew by 19% to £161.4m and commercial revenue by 3% to £177.9m.

City, which remain debt free, have spent £140m on new players since May.

The club’s latest figures mark their eighth consecutive year of turnover growth, with takings rising steadily since Sheikh Mansour purchased the club in September 2008.

During the last financial year, City expanded the seating capacity at the Etihad Stadium by 17% and saw their parent company, City Football Group, received a £265m investment from China Media Capital Holdings.

At that time, City Football Group was valued at $3bn.

Speaking further, Khaldoon commented: “The 2016-17 season represents the beginning of a critical new phase in the evolution of Manchester City.

“Manchester City has now reached a level of sporting and commercial maturity that allows one to feed the other.”

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