Manchester City Reports Record Revenues Amid Financial Allegations

Manchester City announced record revenues of £715 million for the 2023-24 fiscal year, despite ongoing financial allegations. Profits dipped slightly compared to the previous year. The club is currently facing over 100 charges from the Premier League, accused of financial misrepresentation during 2009-18.

Manchester City reported an unprecedented revenue of £715 million for the 2023-24 fiscal year on Friday. The revenue marked an increase of £2.2 million from the previous year, although profits saw a marginal decline to £73.8 million compared to £80.4 million last year.

The club highlighted the sustained strength in its three main revenue streams: commercial activities, broadcasting rights, and matchdays. This reflects the impact of the club's long-term strategic planning, according to a statement by City.

Having been taken over by the ruling family of Abu Dhabi in 2008, Manchester City has since dominated English soccer, securing top titles under the management of Pep Guardiola. Amid its success on and off the field, the club is confronting financial allegations, with a hearing underway over alleged breaches from 2009-18.

(With inputs from agencies.)