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Record revenue filed by EPL leaders Man City

IANS  |  London 

English League (EPL) leaders Manchester City reported record revenues and a third consecutive year of profitability.

The club generated revenues of $620 million in the 13-month period ending June 30, 2017, representing a 21 percent increase over the previous year, reports Xinhua news agency.

The club said the results also represented the ninth successive year of improved financial performance.

The club earned $267 million in broadcast revenue, an increase of 26.1 percent over 2016. The payroll bill swallowed up 56 percent of its

EPL matches at its Etihad Stadium averaged just over 54,000.

In the report, club chairman Khaldoon Al Mubarak said growth was moving towards the "500 million pounds" mark, reiterating the club's long held position that "on-field success and financial sustainability must exist hand-in-hand."

CEO Ferran Soriano said that while finishing the season empty handed was unsatisfactory, the team showed at periods throughout the season "exactly the type of quality football we want to be playing."

Manchester City is owned by Sheikh Mansour bin Zayed Al Nahyan via his investment company, Abu Dhabi United Group.

--IANS

sam/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 09 2017. 11:52 IST
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