Manchester City has released a set of financial statements for the 2022–2023 season that surpass all previous records and show the club brought in an incredible £712.8 million.
The men’s squad, the second English side in history to accomplish a Premier League, FA Cup, and Champions League triple, dominated the field to earn the largest sum of money any Premier League has taken in a single season.
City reported that earnings nearly doubled in a year, from £41.7 million in 2021/22 to £80.4 million in 2022–23.
Just over £100 million more was made by City in 2021–2022, and £712.8 million is a significant amount more than the previous Premier League record of £648.4 million set by Manchester United only a month before. The global record is held by Barcelona, with a somewhat disputed €990m (£861m) from the 2018/19 season.
Referring to it as the “best football and commercial year” in the lengthy history of City, chairman Khaldoon Al-Mubarak said it is a “confirmation of a concept and persistent approach” since current owner Sheikh Mansour ended his ownership of the team in 2008 and turned around the club’s fortunes.
Al-Mubarak also made the potentially concerning statement that City will just “double down” on what has been successful in the past few months and set new goals in response to the success they have had.
115 Premier League financial rule violations between 2009 and 2018 are a problem that still plagues City. Premier League expulsion, a fine, and a penalty of points are among the punishments that an independent panel handling the case has the authority to impose on City.
For alleged Financial Fair Play violations dating back to 2014, City was fined £49 million by UEFA. After receiving an appeal to the Court of Arbitration for Sport, their two-year ban from European tournaments was finally revoked in 2020.