Man City posted record revenue and its third consecutive year of profit in its latest financial figures, according to Jack Pitt-Brooke of the London INDEPENDENT. The club's annual report for '16-17, the first season under Manager Pep Guardiola, showed a record revenue of £473.4M, a 21% increase from last year. Like "most big Premier League clubs," the team's matchday revenue was "relatively stable" at £52M, but this season "saw a big jump" in the club's broadcast and commercial revenue streams. Broadcast increased by 21% to £203M while commercial "rose even faster," by 23%, to £218M, as Man City secured new partnerships such as the Nexen Tire sponsorship on this year’s shirt sleeves. The club "also hosted a series of lucrative concerts" at Etihad Stadium. The increase in revenue "means that the wage to revenue ratio is now down" to 56% (
INDEPENDENT, 11/8). In London, Nicholas Megaw reported Man City was "much less profitable" than ManU, reporting pre-tax earnings of just £104,000. The club said that the decline -- from nearly £20M last year -- "was due to a change in its reporting period to bring it in line with the other members of the City Football Group." Man City "failed to win any silverware last season, but has started the new campaign on a much stronger footing, currently sitting eight points clear" at the top of the Premier League table (
FINANCIAL TIMES, 11/8). In London, Mike Keegan reported Man City is second only to ManU when it comes to turnover, with its rival posting a figure of £581M last month. Elsewhere in the "big six," Arsenal announced turnover of £422.8M. Liverpool's last figures, announced in March, were £301M. Chelsea's latest figures "are due next month" (
DAILY MAIL, 11/8).
