City & FFP | 2020/21 Accounts released | Revenues of £569.8m, £2.4m profit (p 2395)

[NipHolmes]

When Jose loses his job in the summer, following a City league triumph and Bayern Munich Champions League win, he will be on his way to PSG to replace Blanc.

Watch him change his tune.

 

[Cobwebcat]

There was an earlier post regarding our turnover v the scum over the next couple of years. The point was made that we will likely see parity
this season but fall behind next season when they receive their new kit deal money and that if they achieve the top 4 that will further increase
their lead.

I wouldn't dispute any of the above but I don't think it tells the whole story. People forget that a certain level of Owner Investment (especially
on Infrastructure and Youth Development) is still permitted under FFP. If required we can utilise this to achieve growth. People also forget
that the scum are still heavily in debt, which needs financing, and that the Glazers themselves take money out of the club through dividends.

I'm not sure what "true parity" in turnover, bearing in mind the above, looks like but I think the scum being £50-100 million ahead is probably
ball park in terms of what they require to compete on a level playing field.

The other factor to consider is wage cost and amortisation. Given their scatter gun approach to transfers since the GPC retired their wage costs
are now above ours and I would image their amortisation charge is on a whole new level.

Bearing in mind all of the above and given our global marketing reach I see absolutely no reason why we couldn't successfully compete
with the scum if a Messi type player ever became available either this Summer or in the next couple of years.

With our global network of clubs and the marketing opportunities that they present coupled with our current success I've little doubt that
our top line turnover will outstrip the scum's in the next 5 years. For all intents and purposes though we have already passed them.

Agree with all of the above apart from the last paragraph, Wilf.

Sure we are big enough to more than compete (as the PL table shows!) The post was really backing up someone's view (forget who now, sorry) that we cannot just expect them to fade away into oblivion. Whereas that outcome is certainly very very very desirable, it's more likely that they will unfortunately get their shit together and be a pain in the arse for the forseeable.

What you say about owner cash injection is correct (£13m ish pa?) and also we don't have their debt burden (another £20m pa, perhaps), so it's true that on parity of turnover, we are ahead in spending power terms.

Regards the last paragraph, I don't know. There's limits to what we can do in terms of screwing more out of match going fans, and barring the extra seats, I'd say we're close to that limit. And the broadcasting revenue is what it is, broadly speaking. So further revenue growth will have to come from commercial activities, and to grow those by the amounts needed to stay ahead of the scum will take some doing. We've already sold our most valuable assets (stadium naming rights etc) and whereas we can perhaps renegotiate and improve on those deals, I don't see where any huge (can I say massive?) new contracts would come from.

That's a good post too but don't underestimate what our owners are capable of. Did you think of everything we have already done because I didn't. Our owners think differently than everyone else and I believe there is much more commercial opportunities to come. The City Group are unique remember, we have nothing to compare against.

 

[M18CTID]

Nice to see Mourinho moaning about us again:



He's right - rules are different for City. Not in a good way for us, though.

Presume Wenger's not held his press conference yet, as I'm sure he'll whinge about something too.

did maureen quantify this?

He doesn't quantify, or qualify, anything, he just makes snide comments, insinuates without going into specifics, and then lets the media do his bidding.

By saying the rules are different for us, it sounds like he's implying that UEFA are favouring us. I wonder what Platini would have to say about that ;)

 

[City Raider]

Nice to see Mourinho moaning about us again:

Henry Winter ‏@henrywinter 6m6 minutes ago

Mourinho on #mcfc signing Bony. “Good striker. If they have the money & no problems with FFP, well done. Rules are different for City." #cfc

He's right - rules are different for City. Not in a good way for us, though.

Presume Wenger's not held his press conference yet, as I'm sure he'll whinge about something too.

did maureen quantify this?

He's right, We've never had a transfer ban for inducing a player to leave his contract. #kakuta

 

[Chippy_boy]

There was an earlier post regarding our turnover v the scum over the next couple of years. The point was made that we will likely see parity
this season but fall behind next season when they receive their new kit deal money and that if they achieve the top 4 that will further increase
their lead.

I wouldn't dispute any of the above but I don't think it tells the whole story. People forget that a certain level of Owner Investment (especially
on Infrastructure and Youth Development) is still permitted under FFP. If required we can utilise this to achieve growth. People also forget
that the scum are still heavily in debt, which needs financing, and that the Glazers themselves take money out of the club through dividends.

I'm not sure what "true parity" in turnover, bearing in mind the above, looks like but I think the scum being £50-100 million ahead is probably
ball park in terms of what they require to compete on a level playing field.

The other factor to consider is wage cost and amortisation. Given their scatter gun approach to transfers since the GPC retired their wage costs
are now above ours and I would image their amortisation charge is on a whole new level.

Bearing in mind all of the above and given our global marketing reach I see absolutely no reason why we couldn't successfully compete
with the scum if a Messi type player ever became available either this Summer or in the next couple of years.

With our global network of clubs and the marketing opportunities that they present coupled with our current success I've little doubt that
our top line turnover will outstrip the scum's in the next 5 years. For all intents and purposes though we have already passed them.

Agree with all of the above apart from the last paragraph, Wilf.

Sure we are big enough to more than compete (as the PL table shows!) The post was really backing up someone's view (forget who now, sorry) that we cannot just expect them to fade away into oblivion. Whereas that outcome is certainly very very very desirable, it's more likely that they will unfortunately get their shit together and be a pain in the arse for the forseeable.

What you say about owner cash injection is correct (£13m ish pa?) and also we don't have their debt burden (another £20m pa, perhaps), so it's true that on parity of turnover, we are ahead in spending power terms.

Regards the last paragraph, I don't know. There's limits to what we can do in terms of screwing more out of match going fans, and barring the extra seats, I'd say we're close to that limit. And the broadcasting revenue is what it is, broadly speaking. So further revenue growth will have to come from commercial activities, and to grow those by the amounts needed to stay ahead of the scum will take some doing. We've already sold our most valuable assets (stadium naming rights etc) and whereas we can perhaps renegotiate and improve on those deals, I don't see where any huge (can I say massive?) new contracts would come from.

That's a good post too but don't underestimate what our owners are capable of. Did you think of everything we have already done because I didn't. Our owners think differently than everyone else and I believe there is much more commercial opportunities to come. The City Group are unique remember, we have nothing to compare against.

Very true.

And the raw essential ingredients are there for us to wipe them out in the long run. Winning trophies is what builds you a world-wide fan base, and we have just started to do that. As we continue to do it, and to do well on the bigger stage of the CL, this will only grow. It will take time, but sooner or later our global fan base will match or exceed theirs. And then they are toast.

Our underlying business and business model is better than theirs and will ultimately win out. We have a better global network with City Football Group, better Academy infrastructure and better financial base (no debt and no need for profit).

Ultimately they won't be able to compete with that. The only advantage they have is that right now, they are a bigger brand, but that won't last forever.

 

[john@staustell]

On the face of it the figures for 2014 season are as follows:

United - revenues £433M, lots of debt to be serviced, profit £24M. Loads spent since and no CL. If no CL after 16/17 season Adidas deal reduces by 30%

City - revenues £347M and rising. Zero debt


To be honest we dont make much of this but United should well be scared stiff at how close we are getting after a standing start. If they dont qualify for CL this season the alarm bells and panic buttons will be deafening.

 

[Peter Doherty]

Nice to see Mourinho moaning about us again:



He's right - rules are different for City. Not in a good way for us, though.

Presume Wenger's not held his press conference yet, as I'm sure he'll whinge about something too.

did maureen quantify this?

He doesn't quantify, or qualify, anything, he just makes snide comments, insinuates without going into specifics, and then lets the media do his bidding.

He obviously has transferrable skills, as you've just described the average football 'journalist' in this country.

 

[Chippy_boy]

On the face of it the figures for 2014 season are as follows:

United - revenues £433M, lots of debt to be serviced, profit £24M. Loads spent since and no CL. If no CL after 16/17 season Adidas deal reduces by 30%

City - revenues £347M and rising. Zero debt


To be honest we dont make much of this but United should well be scared stiff at how close we are getting after a standing start. If they dont qualify for CL this season the alarm bells and panic buttons will be deafening.

Your £433m number is misleadingly as well mate. Don't misunderstand - it is accurate - but the point is their current year number will be around £390m according to their own projections, due to their missing out on the CL. We will be around that figure this year, I reckon.

But as you say their Adidas money is safe for now, so they will be back into the mid £400's for FY 15/16 no matter what happens. £500m+ probably if they get top 4 this year. I can't see us going from £400m to £500m in one season, so we may be leapfrogging each other for a few years to come.

 

[john@staustell]

On the face of it the figures for 2014 season are as follows:

United - revenues £433M, lots of debt to be serviced, profit £24M. Loads spent since and no CL. If no CL after 16/17 season Adidas deal reduces by 30%

City - revenues £347M and rising. Zero debt


To be honest we dont make much of this but United should well be scared stiff at how close we are getting after a standing start. If they dont qualify for CL this season the alarm bells and panic buttons will be deafening.

Your £433m number is misleadingly as well mate. Don't misunderstand - it is accurate - but the point is their current year number will be around £390m according to their own projections, due to their missing out on the CL. We will be around that figure this year, I reckon.

But they can miss the CL this year and not lose any Adidas money. They have to miss it this year and next year for that to be impacted. So they will be back into the mid £400's for FY 15/16 no matter what happens. £500m+ probably if they get top 4 this year.

But imagine the glee after the 2015 results - that will be a fun day!

 

[Chippy_boy]

On the face of it the figures for 2014 season are as follows:

United - revenues £433M, lots of debt to be serviced, profit £24M. Loads spent since and no CL. If no CL after 16/17 season Adidas deal reduces by 30%

City - revenues £347M and rising. Zero debt


To be honest we dont make much of this but United should well be scared stiff at how close we are getting after a standing start. If they dont qualify for CL this season the alarm bells and panic buttons will be deafening.

Your £433m number is misleadingly as well mate. Don't misunderstand - it is accurate - but the point is their current year number will be around £390m according to their own projections, due to their missing out on the CL. We will be around that figure this year, I reckon.

But they can miss the CL this year and not lose any Adidas money. They have to miss it this year and next year for that to be impacted. So they will be back into the mid £400's for FY 15/16 no matter what happens. £500m+ probably if they get top 4 this year.

But imagine the glee after the 2015 results - that will be a fun day!

Yes, it really matters not, but overtaking them revenue-wise would be highly symbolic and a source of much merriment :-)

It will be VERY interesting to see how the rag press will report it, assuming it happens!