Logo of Phnom Penh Post newspaper Phnom Penh Post - Man City’s revenue exceeds Man Utd’s for first time



Man City’s revenue exceeds Man Utd’s for first time

Content image - Phnom Penh Post
Manchester City players celebrate after Manchester United defender Eric Bailly scores an own goal during the English Premier League football match on November 6 last year. AFP

Man City’s revenue exceeds Man Utd’s for first time

Manchester City’s revenue exceeded arch rivals Manchester United for the first time last year, the Premier League champions revealed in their latest financial accounts on Wednesday.

City reported club record revenue of £569.8 million ($780 million) for their title-winning 2020-21 season.

That was a revenue increase of 19 per cent on the previous year, with an overall profit of £2.4 million.

Across Manchester, United, who finished 12 points behind City in the Premier League last term, recorded revenue of £494.1 million for the financial year ended June 30, 2021.

City’s latest figures, published in their annual report for 2020-21, reflect a highly successful campaign for Pep Guardiola’s side.

They won the Premier League and League Cup and reached the Champions League final for the first time, losing 1-0 to Chelsea in Porto.

Matchday revenue fell from £41.7 million to just £700,000 as a result of matches being played behind closed doors amid the coronavirus pandemic.

The return to profitability comes after a loss of £126 million in 2019-20, when the pandemic first hit.

“The season closed with the team having played 63 out of a maximum possible 64 matches, taking home the Premier League title, winning a record-equalling eight League Cups, reaching the final of the UEFA Champions League for the first time and breaking a raft of records in the process. This is not a club that gives up when the going gets tough,” City chief executive Ferran Soriano said.

“From a business perspective, we were pleased to return to profitability, having successfully navigated the revenue challenges created by the pandemic. Covid-19 did not stop us, and we continued to grow, innovate and develop new ideas.

“And while we cannot dismiss the pain of missing out on the trophy in Porto at our first ever UEFA Champions League final, we must also pause to savour the fact that Manchester City has won three of the last four Premier League titles, and are now looking ahead to what we can do to achieve even greater success in the next stage of our journey.”

MOST VIEWED

  • Siem Reap drain canal now ‘mangrove’ promenade

    A more than half a kilometre long stretch of canal in Siem Reap has been covered and turned into a promenade to attract visitors, said Ly Rasmey, secretary of state at the Ministry of Land Management, Urban Planning and Construction, on September 16. The new pedestrianised

  • Angkor wildlife, aquarium park still to open October

    The Angkor Wildlife and Aquarium complex about 30km southeast of Siem Reap town with initial total investment of more than $70 million is reportedly still on track for an end-October opening. The park is located on a 100ha plot along National Road 6 in Kbon village, Khchas

  • Final verdicts for Khmer Rouge leaders ‘vital’ for next generation

    Nearly a decade after the commencement of Case 002/02 against Khieu Samphan back in 2014, the Extraordinary Chambers in the Courts of Cambodia (ECCC) is now set to deliver its final verdict for the former Khmer Rouge head of state. The Supreme Court Chamber of the ECCC,

  • Defence minister reaffirms Kingdom’s staunch support for One-China policy

    Minister of National Defence General Tea Banh has reaffirmed Cambodia’s unwavering support for the One-China policy. Tea Banh was speaking at the September 20 ceremonial handover of 117 vehicles and other military equipment donated by China’s defence ministry, held at Phnom Chumreay International Military Training

  • Deaths due to ‘lifestyle’ diseases rise in Kingdom

    The Ministry of Health has called on people to pay closer attention to their health to protect themselves from non-communicable diseases (NCDs) which it said have caused high rates of deaths in the country. Ministry secretary of state York Sambath made the call at a

  • Textile industry minimum wage now $200

    The official minimum wage for workers in textile-related sectors including garment, footwear, and travel goods for 2023 was pegged at $198, with Prime Minister Hun Sen stepping in to add $2 to the total, making it $200 per month. The Ministry of Labour and Vocational Training made the announcement