Manchester City
Manchester City's revenue total of £712.8 million for 2022/2023 is both a club and Premier League record. Phil Noble/Reuters

In its report for the 2022/2023 financial year, Manchester City have revealed that the club generated £712.8 million across the period. This figure is an increase of £99.8 million from the previous year and is both a club and Premier League record for revenue total.

The previous Premier League revenue record was recently announced by Manchester City's local rivals, Manchester United, who for the same financial year posted revenue figures of £648.4 million.

As well as Manchester City's revenue reaching record-breaking heights, the club's profits have done the same with the figure increasing from £41.7 million to £80.4 million.

Manchester City's off-field success was also recognised earlier in the year through the 2023 Brand Finance Football 50 Report. Here, the club was named the most valuable football club brand in the world with a brand value of £1.32 billion, which ended Real Madrid's four-year reign at the top of the rankings.

Also, Manchester City ranked first in the Deloitte Football Money League 2023, marking its second successive year in top position.

The three core income streams which contributed to Manchester City's record year included matchday, commercial and broadcast revenue, with all three areas having a year-on-year increase. The commercial revenue was the biggest income stream as £341.4 million was generated.

Mostly playing into the higher broadcast and matchday revenue figures was Manchester City's on-the-pitch success, as the 2022/2023 campaign turned out to be the club's most successful ever. Pep Guardiola's side became just the second English team to win the Premier League, FA Cup and UEFA Champions League all in a single campaign, amounting to a superb treble-winning season that lasted 61 games in all competitions.

The Champions League and FA Cup run which Guardiola's side went on largely contributed to the club's broadcast revenue figures increasing by just over £50 million up to £299.4 million. The matchday revenue jumped from £54.5 million up to £71.9 million, which was due to the team having four more home games at the Etihad Stadium than the season prior, with 31 matches taking place at the Etihad Stadium.

The player transfers at Manchester City during the past year also contributed to the club's financial success as £121.7 million in profits was earned. The sales of Gabriel Jesus and Oleksandr Zinchenko to Arsenal, and Raheem Sterling to Chelsea, amounted to just below £125 million.

Manchester City's financial success in the past year comes despite the payroll for employees at the club increasing by nearly £70 million up to £422.9 million and there being 29 fewer staff than the year before. This salary expense for the year saw Manchester City become the first British club to spend over £400 million on annual wages.

Partly to do with the wage bill increase was the bonuses which were paid out after Guardiola's side won the treble. Also, the addition of Erling Haaland in the summer of 2022 was a large factor in the increased club payroll as the Norwegian striker reportedly signed on for a salary of £45 million per year when factoring in achievable bonuses.

Chairman of Manchester City, Khaldoon Al Mubarak, commented on the year the club has had, saying: "Last season saw Manchester City achieve the greatest football and commercial year of its storied history. Our financial health and on-field success mean everyone connected to Manchester City can look forward to the future with excitement."

Looking ahead to the future, Al Mubarak added: "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."

The club's Chief Executive Officer, Ferran Soriano, reflected on the success Manchester City have had recently.

He stated: "Winning the treble, achieving record revenues and record profits. Being named the most valuable football club brand in the world. We can certainly say that the 2022-23 season was the best in the history of Manchester City."

In the report, the club mentioned the 115 charges placed against them by the Premier League earlier this year for alleged financial breaches from 2009-2018.

The report read: "In February 2023, in response to the charges, the club issued a public statement that it welcomes the review of this matter by an independent commission, to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position."