Man City announce new Premier League record revenue, surpassing Man Utd after huge rise in income
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Manchester City set a new Premier League revenue record last season, surpassing cross-city rivals Manchester United.
Their success had a significant impact on the club's income, which rose to £712.8 million, surpassing Manchester United's £648.4 million recorded last month.
While the club almost doubled its profit to £80.4 million, despite a huge increase in wages.
The Etihad outfit also received a further £50.4 million in broadcast revenue compared with the previous year, as well as a net profit of £121.7 million through player sales, claim the Irish Times.
The majority of the additional income generated through TV is down to the club's incredible Champions League run, which ended in Istanbul with a 1-0 with over Inter Milan in the final.
The report adds that 29 members of staff left City. But wages were increased by almost £60 million due to the bonuses for their treble triumph, with new signing Erling Haaland thought to be earning £375,000 per week.
In addition, there were a further four matches played at the Etihad compared to the previous year, which saw matchday revenue soar by of £17.4 million to £71.9 million, further increased by a slight increase in average attendance.
Not to mention the sales of Gabriel Jesus, Oleksandr Zinchenko and Raheem Sterling which boosted the club's transfer profit by £125 million.
Speaking about their extraordinary season, chief executive Ferran Soriano said: “We can certainly say that the 2022-23 season was the best in the history of Manchester City."
City chairman Khaldoon al-Mubarak added: “Our financial health and on-field success mean everyone connected to Manchester City can look forward to the future with excitement. Our collective achievements give me huge confidence that together we can accomplish even more in the years to come.”