Annual report released - record turnover of £535.2m for 2018/19

[razman]

 

[TheRemainsOfTheDave]

The overseas TV rights are split differently from this season onwards. Last season the £3.1 billion deal over 3 years would have meant £51M split equally for each club but the total amount has risen to £4.2 billion over 3 years and will now be split based on finishing position. The mid-point position will mean ~£70M so am guessing it will range from ~£50M to ~£90M as I've read the factor from top to bottom is 1.8. That's close to a £40M uplift just there, if I've got my facts right.

 

[City Raider]

Commercial income drop is a surprise? Thought we were expecting an increase.

 

[balotellishaircut]

If we're such a small club why are these jealous pricks reading and tweeting about City, they must lead really sad hateful lives.

 

[sky_blue]

Match day income down around 3% - did we have fewer home cup games last season compared to the year before ?
Commercial income down by around 2%
Broadcasting income grew by 20%.

Difference in how it was being calculated. Using last year's parameters, it has increased 2.8%. The following section explains the cause for the change -

The Company has applied IFRS 15 using the cumulative effect method. Therefore the comparative information above has not been restated and continues to be reported under IAS 18 and IAS 11.
Manchester City previously recognised gross revenue and cost of sales for the catering contract with Fabulous Fan Fayre Limited, who provide customers with refreshments on a matchday at the Etihad Stadium, as Manchester City was acting as the principal in this arrangement. Following an assessment under IFRS 15 and a revised contract with Fabulous Fan Fayre Limited the net revenue generated from the contract should be recognised as royalty income as Manchester City is acting as the agent. This conclusion has been reached due to the supplier being primarily responsible for fulfilling the promise to the customer and the inventory risk falling on them before the transfer to the customer. There is no impact on the balance sheet as a result of this adjustment.

 

[Stoned Rose]

Salty candles.

 

[SWP's back]

Nice little FFPR dig by the bitter rag twat.

I don’t think it’s that. I think he’s making the point that we are so far past that period in our evolution and 5 years of profits mean we don’t even need to discuss it any more.

 

[sky_blue]

This section from the report -

The directors welcome the opening of a formal UEFA investigation as an opportunity to bring to an end speculation resulting from illegal hacking & out of context publication of club emails. The directors are confident of a positive outcome.

I guess now we know why the report was delayed. Club was probably waiting for AC to conclude the investigation.

 

[manimanc]

Can't wait to see how the jealous twats in the media report this.
The sound of piss boiling from the usual suspects will be beautiful, I mean that's if they don't totally bury their heads in the sand.

 

[BertTrautmann'sParachute]

I agree he's got that wrong, why would we change shirt sponsorship after winning consecutive titles for only £45m, it just doesn't add up.

That sponsorship is for the City group of clubs so that might have something to do with it.