Manchester City submitted its first annual accounts on Wednesday after allegations of more than 100 breaches of Financial Fair Play rules. The records came running.
Annual accounts of the city It shows revenues of £712 million, equivalent to more than 9.5 billion kroner at today’s krone exchange rate.
The accounts can also report a net operating profit (EBIT) of £80 million at the end of the season on June 30, which equates to just over a billion kroner. This is nearly double from the previous year.
Profit before tax ended at £104 million, equivalent to approximately NOK 1.4 billion.
The main part of the income comes as a result of television deals, with the club earning nearly £300 million, which equates to just over 4 billion kroner.
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So what about the wage bill for the Emirati-owned club?
It clocked in at a paltry £443 million or NOK 5.9 billion, if you will. It’s an increase of almost 20 percent on the previous season, when the payroll budget was £354m.
This is also a new Premier League record.
It was previously held by city rival Manchester United during the 2021/2022 season. This was Ole Gunnar Solskjaer’s final half-season in the manager’s chair at Old Trafford.
Forbes It was previously written that Erling Braut Haaland takes up a significant space in Manchester City’s salary budget. According to the magazine, the Norwegian earns approximately 550 million Norwegian kroner annually.
All this comes not only from the club, but also from personal sponsorship agreements.
VG He wrote earlier this year that Jærbuen earned around NOK 250 million from representing on- and off-field equipment giant Nike.
In addition, Haaland has sponsorship agreements with Samsung, Breitling and Prime. He also recently appeared in a commercial with his father Alfie and basketball star LeBron James for headphone manufacturer Dr. Dre.
Record number of player sales
The club also notes that it has generated more than £121 million from player sales. Sales of players such as Gabriel Jesus, Oleksandr Zinchenko and Raheem Sterling have contributed to club record numbers.
The club also released many talents who had no hope of reaching the first team. Among these was Romeo Lavia, who disappeared to Southampton in the summer of 2022. The following year, Chelsea spent more than 660 million Norwegian krone for the midfielder’s services.
Mention the charges
In February, Manchester City was accused of more than 100 violations Financial fair playFinancial fair playFinancial Fair Play is a set of rules to prevent European clubs from spending more money than they receive on sponsorship deals. In this way, wealthy owners should not be able to pump unlimited money into the club’s coffers from their own pockets.– The rules, as well as the Premier League’s regulations on profitability and sustainability, between 2009 and 2018.
In short, the accusations are that the club – by artificially inflating its sponsorship agreements – can spend more money without breaking regulations.
The club’s response was that they wanted the case to be reviewed by an independent committee. There were no further developments in the case, which is expected to be decided in the courtroom.
According to the British newspaper The Times, the winner of the treble risks, among other things, a points deduction and exclusion from the league.
It is common for these uncertainties to be mentioned in the annual report. Under the “Risks and Uncertainties” category, Citi acknowledges the ongoing issue. At the same time, they indicate that they feel confident that they have done nothing wrong, and point to the response they provided in February.
In 2020, Manchester City were initially expelled from the Champions League after violating UEFA’s Financial Fair Play rules, but won their appeal case at the Court of Arbitration for Sport (CAS).
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