Manchester City post record revenues for 2017 but announce loss on player transfers
Posted: 9 November 2017 Time: 14:01
Manchester City have announced record revenues of £473.4m and a profit of £1.08m for the year ending June 30, 2017.
The announcement comes as a 21 percent rise in turnover for the Citizens and marks the ninth consecutive year of improved financial performance for the Manchester giants.
However, City’s wage bill has risen by 33 per cent to £264.1m while they posted a loss of £87.1m on player transfers.
Club chairman Khaldoon Al Mubarak said: "On-field success and financial sustainability must exist hand-in-hand.
"What hopefully comes across is that the football organization and off-field business have the right symmetry and balance to allow us to continue to further strengthen and grow."