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Manchester City have overtaken Manchester United as the defending Premier League champions revealed their revenue for the year, ending on June 30.
City made a staggering £712.8 million in revenue last year, a hike of almost £100 million from the previous year. They also left city rivals Manchester United, whose annual revenue was announced as £648.4 million, far behind.
Pep Guardiola's side had a historic campaign last term, the best in the club's history. The Sky Blues won the Premier League, the UEFA Champions League, and the FA Cup.
Their run to the Champions League made the club an eye-watering £341.4 million, of which £113.8 million was from UEFA. They made a recorded matchday revenue of £71.9 million from the Premier League and a profit of £120 million from player trade.
City's total payroll, however, rose up to £423 million from £354 million despite head counts dropping from 549 to 520.
Manchester City Chairman Khaldoon Al-Mubarak reflected on the financial statements of the calendar year and outlined the club's aspirations moving forward. When quizzed about what City can do to replicate their enormous success last term, he said (as per Irish radio RTE):
"In the aftermath of the UEFA Champions League win in Turkey and the completion of 'The Treble' the question I was asked most often, was 'How do you top that?' The answer is by doubling down on the proven philosophies and practices that have brought us this success and to challenge ourselves to continue to constantly innovate in order to achieve new levels of performance both on and off the field."
He added:
"We will continue to question all the industry norms, we will evaluate our successes and learn from any failures. We will not be afraid to set new goals and develop new strategies that deliver for our club, its communities and stakeholders and especially for the fans."
What's next for Manchester City and Manchester United?
Defending Premier League champions Manchester City are once again leading the league table this season, with 28 points from 12 matches. They will return to action on November 25 to take on Liverpool.
Manchester United, meanwhile, will next play Everton on November 26. Erik ten Hag's side have been mediocre so far and sit in sixth place in the EPL table, with 21 points from 12 matches.
The neighbors' performances in the UEFA Champions League have also been in stark contrast. While Manchester United are at the bottom of Group A with three points from four games, Manchester City lead Group G with 12 points from four games. Pep Guardiola's team have already secured their passage to the knockout stages.
