Manchester City breaks £500m revenue barrier

Manchester City has followed rivals Manchester United in registering revenues in excess of £500million.

Manchester City is now the fifth club in Europe to hit revenues of half a billion pounds.   -  Getty Images

Premier League champions Manchester City has announced record revenues of £500.5million in its 2017-18 annual report.

City made a profit for the fourth consecutive year, with its balance sheet in the black to the tune of £10.4m, while the wage-revenue ratio sits at 52 per cent.

City, whose 2016-17 revenue stood at £473.4m, has become only the second English club to break the £500m barrier after Manchester United in 2016 – a feat its neighbours repeated last year by bringing in £581.2m.

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City is now the fifth club in Europe to hit revenues of half a billion pounds, along with Real Madrid, Barcelona, Bayern Munich and United, which is due to release its latest figures this month.

On the field, Pep Guardiola's team enjoyed a record-breaking campaign last time around, hitting 100 points as it lifted the Premier League with new best marks in terms of overall wins, consecutive victories, goals scored and goal difference.

It also won the EFL Cup and reached the quarter-finals of the Champions League, where it lost to Liverpool.

"The 2017-18 season will go down in history because of the incredible football we all witnessed," City chairman Khaldoon Al Mubarak said. "We are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them.

"Our aim is obviously to build on the achievements of the last year. We will always strive for more."

This month marked the 10th anniversary of Sheikh Mansour's takeover of City and Al Mubarak added: "Our journey is not complete and we have more targets to fulfil.

"There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the 10 seasons that came before."

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