Much of what your wrote is true.
However, the CL is expanding, and according to Stefan/Project Driver, next seasons CL revenues will be increasing by at least 30% if City get to the CL QF’s. How much extra money for the CL semi-final and final? Will the PL prize and TV money be increasing again? City are already in the expanded World club championship as the holders. City are signing new sponsors deals with companies who will pay more money to be associated with the treble winners and world club champions. Record money making pre season tours in America have already been announced. Does the club really need to increase season tickets by X for the 11th season in a row to generate another £1mill+ from season ticket sales. Don’t forget, as more and more season tickets get whittled down by the club on purpose, that £1mill+ will start to dwindle and become less than £1mill, whilst match day revenues will increase via match day ticket sales, corporate and hospitality sales. That’s where the real match day revenues are, not the dwindling amount of season tickets sales.