Manchester City Returns To Profitability After Covid Impact

Manchester City has released its Annual Report for 2020-21, which shows a return to profitability and continuing the long-term trend of steady growth that was interrupted by COVID-19.

The current Premier League champions saw an increase in total revenues of 19% to £569.8m, with a profit of £2.4m.

In the report, Chairman Khaldoon Al Mubarak took the opportunity to reflect on the achievements from the season, as well as a look to the future, noting that: “The success of our men’s first team – this year’s trophies represent our fifth Premier League title and sixth League Cup of the last decade – is our story today.

“Our story tomorrow will be written by the next generation, who made history this year when the EDS and U18 teams won their respective leagues, meaning Manchester City hold the titles at all three levels of the men’s game.”

Highlighting Manchester City’s positive financial performance over the past season, attributing the return of profitability to the impact of the club’s long-term strategy to diversify and globalise revenues, he commented: “His Highness Sheikh Mansour’s vision, set in 2008, is the reality we are living thirteen years later – we are a sustainable and socially responsible organisation, finding and developing talent and competing for trophies on both the domestic and European stage.”

The club’s Chief Executive Officer Ferran Soriano pointed to the resilience of the organisation adding: “From a business perspective, we were pleased to return to profitability, having successfully navigated the revenue challenges created by the pandemic. COVID-19 did not stop us, and we continued to grow, innovate and develop new ideas.”

To access the report please click here.