Manchester City Chairman Khaldoon Al Mubarak insists the club’s financial growth remains sustainable after the Premier League champions reported record-breaking revenues and profits following there Treble-winning season in 2023.
City’s commercial momentum was evident after seeing revenues rise to £712.8 million, an increase of £99.8 million on the previous 12 months, and profits of £80.4 million, nearly double that of the previous year’s record of £41.7 million.
In the second part of his season review in Abu Dhabi, Al Mubarak said the money will go straight back into the club’s infrastructure, facilities and players, as they look to continue their resounding success.
“I’m very pleased with the results; these results are very sustainable because we have now a very clear foundation that’s been built over many years,” said Al Mubarak, who has overseen the club winning eight Premier League titles, three FA Cups, six League Cups, a Champions league and a FIFA Club World Cup title since City Football Group's takeover in 2008.
“We have a financial and economic machine. As long as we keep managing well and being prudent, you know that growth in terms of revenue, in terms of profitability, I think we’re on a trajectory that’s been there for years now and continues to go from strength to strength.
“Since day one Sheikh Mansour, as the largest shareholder of the group, has been very focused on growth and value appreciation. And in doing so, every pound of profit has stayed within the group to support growth and development.
“The result of it is we always are investing. We’re always investing in infrastructure. We’re investing in the development of these clubs. We’re buying new teams. We continue to grow and grow.”
Women’s game is growing
Al Mubarak also paid tribute to Manchester City 'legend' Steph Houghton, who hung up her boots last month following a glittering 11-year spell at the club.
The Englishwoman won the Women’s Super League (WSL), four Women's Cups and five WSL Cups while playing for City after joining the club from Arsenal in 2013.
“Steph has been a tremendous leader for our club, for the team,” he said.
"You are a legend and a leader. And, as this women's team and women's football continues to evolve, your role will never be forgotten.
“She's one of the most decorated players in England. Thank you, Steph, for everything you've done for us. And delighted that you will always be part of this club.
“There's going to be a special mosaic for Steph in our new women's team training facility, which will be unveiled soon. And I'm very excited for Steph and of course, for our women's team to have their new facilities.”
The growth in the women’s game, especially in England, has become more and more evident in recent years, with attendances and TV viewing figures growing year-on-year.
In fact, England's Women Euro 2022 final against Germany at Wembley set a new record of 87,192 for the highest attended match at either a men's or women's European Championship.
The rise of the women’s game has also had a lasting effect on Al Mubarak’s own children.
"If you sit with my daughter right now and you ask her who's your favourite player, she’ll answer you, 'Female or male?'” he said.
“Great. But more importantly, if you ask my son the same question, he'll answer you in the same way, 'Male or female?' I think that shows you how this game has changed.
"Maybe three years ago, if I had asked both of them, they would have answered you automatically naming a male player without even the follow-on question. I think that for me tells me everything about how this game is evolving."
