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Man City break 500 million income barrier

AFP  |  London 

English champions Manchester City posted record revenues of 500.5 million ($652 million) in a record-breaking 2017/18 campaign on the pitch as Pep Guardiola's men romped to the title amassing 100 points.

City reported profits of 10.4million, a fourth consecutive year of profitability, with wages to revenue ratio falling to 52 percent.

"Our journey is not complete and we have more targets to fulfil," said Khaldoon Al Mubarak, who recently celebrated a decade since an Abu Dhabi-backed takeover of the club transformed City's fortunes.

"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."

Before Sheikh Mansour's takeover, City's revenue was a mere 87 million for the 2007/08 season.

Huge losses of over 584 million followed during the first six years of their ownership due to massive investment in the playing squad and facilities, including the 200 million Etihad Campus training ground.

However, surging television revenues, commercial sponsors and regular mean that City now trail only local rivals Manchester United and European powerhouses Barcelona, Real Madrid and Bayern Munich for income, according to finance specialists

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

First Published: Thu, September 13 2018. 22:11 IST
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