Manchester City slashes wage bill and sets record revenues, what’s next?
- Manchester City reported record revenues of £715 million and a profit of £73.8 million.
- The club cut their salary expenditures even while expanding their staff and aims to spend in the January transfer market.
- These financial results suggest Manchester City can effectively support their team despite previous performance challenges.
In a recent financial report, Manchester City revealed its remarkable performance with record revenues reaching £715 million in the year ending June, coupled with a profit of £73.8 million. The club's expenditure on salaries decreased from £422 million to £412 million, even as they appointed 91 new staff across various departments. This financial health is expected to allow City to support their manager, Pep Guardiola, more effectively in the upcoming January transfer window, particularly with plans to add a midfielder to their squad. The report highlights Manchester City's significant profitability on trading, amounting to £139 million, which does not factor in the proceeds from the sales of players like Julian Alvarez, Joao Cancelo, and other academy products valued at nearly £93 million. These financial improvements come at a critical time after the club has seen a challenging run with seven losses in ten matches across all competitions. The timing of this report coincides with the anticipation building ahead of their derby against Manchester United, where they aim to bolster their squad in light of recent performances. Alongside positive financial news, the report addressed ongoing legal challenges that Manchester City faces from an independent commission regarding alleged financial misconduct. Club officials have expressed confidence in the integrity of their financial practices, citing