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CITY have broken the PS500m barrier in revenue for the first time.

The Blues' annual report shows that they posted a record figure of PS500.5m, which is 44 per cent up from five years ago.

It means City turned a profit of PS10.4m, but chairman Khaldoon Al Mubarak said they are already pushing for more. Only United, Spanish pair Real Madrid and Barcelona, and German giants Bayern Munich have higher revenues in world football.

"Our aim is obviously to build on the achievements of the last year," said Khaldoon.

"We will always strive for more. 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 ten seasons that came before."

The report said the club had a net spend of 'approximately PS42m' over the summer following the signings of Riyad Mahrez, Daniel Arzani and Claudio Gomes, and the sales of Angus Gunn, Joe Hart, Bersant Celina, Rodney Kongolo and Jason Denayer.

City could be liable for up to PS158.9m in additional transfer fees, signing on fees and bonuses under existing contracts, depending on future conditions being met.

With records being broken off the advances are a result of careful strategic planning.

He said: "Most of the developments visible today are the result of a carefully crafted strategy - one in which organic evolution has also been allowed to thrive.

"The 2017-18 season will go down in history because of the incredible football we all witnessed."

He added: "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."

The club's annual report also details the 25-plus records broken by the men's first team in what chief executive Ferran Soriano called 'a


Pep Guardiola with Khaldoon Al Mubarak

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Title Annotation:Features
Publication:Manchester Evening News (Manchester, United Kingdom)
Date:Sep 14, 2018
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