Manchester City become only second English club to record annual revenues over £500m

Manchester City have become only the second English club in history to surpass £500 million in annual revenues.

The Premier League champions published their accounts for 2017/18 today which show turnover has hit £500.50 million, a 44 per cent rise in five years and a near six fold increase in the 10 seasons since Arab billionaire Sheikh Mansour bought the club.

It leaves City - who became the first English club to amass 100 points in a single season under Pep Guardiola last term - trailing only Manchester United (£581 million) in revenue terms among the Premier League elite.

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City are also only the fifth club in Europe to reach £500 million in annual revenues after United - who release their 2017/18 results on Tuesday week - Real Madrid, Barcelona and Bayern Munich.

The Manchester club also posted a profit of £10.4 million, the fourth season running the club have returned a profit after heavy losses early in the Sheikh’s ownership.

City’s wage bill increased from £243.8 million for 2016/17 to £260 million - the second highest in the top flight behind United - but the wage to turnover ratio dropped from 56 per cent to 52 per cent.

Arsenal - who are due to publish their 2017/18 accounts in the weeks ahead - had a turnover of £427 million for 2016/17. Chelsea were fourth with revenues of £368 million and Liverpool fifth with a turnover of £364 million. Tottenham’s revenues for 2016/17 were £306 million.

“The 2017-18 season will go down in history because of the incredible football we all witnessed,” Khaldoon al-Mubarak, the City chairman, said. “We are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them.

“Our aim is obviously to build on the achievements of the last year. We will always strive for more.

“Our journey is not complete and we have more targets to fulfil. There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the ten seasons that came before.

“Most of the developments visible today are the result of a carefully crafted strategy - one in which organic evolution has also been allowed to thrive”.

Ferran Soriano, the City chief executive, said the club were looking to build on last season’s title success and go further in the Champions League after last term’s quarter-final exit to Liverpool.

“We recognise that the sporting challenge continues,” he said. “Consistent domestic success and further development in the Champions League will be our focus in 2018-19 and the seasons to come”.