Manchester City releases 2023-24 Annual Report | Record £715m revenue, profit of £73m

[Damocles]

That and everyone now knows how much we have to spend.

Fairly sure they considered us wealthy even before these accounts mate

 

[LangleyBlue1970]

RAWK have reacted as you’d expect.

It must be really hard not being able to accept things the way they are.

 

[M12Blue]

Pass it on to the long serving loyal local fanbase then.

Bayern have also got record profits yet they have 16,000 (yes, SIXTEEN THOUSAND!) season tickets under €350, many as low as €250. Their record profits are not based on milking every last penny out of their fans as they can. So it’s proven that clubs can be financially successful without doing that.

City; you do not get a trophy for winning the Deloitte Money league. You do disenfranchise and disengage your local support when you price them out or don’t offer them new season tickets if they want to be part of a new stand though.

Reduce season ticket prices, or freeze them for a decade, or give fans with an ‘M’ post code or ‘0161’ area code a discount on them and matchday tickets… or all of those things.

I’m from Gorton but left aged 18 years. My current travel costs are fairly significant, but I’m a legacy fan. Do I not deserve because life moved me to other areas?

Went to Dortmund game once, and my travel from Düsseldorf airport was free as I had a match day ticket.
I think out of the box thinking like this a potential way forward esp if the campus, when finish, will be an attraction. Co-op for starters. Free travel and a pint

 

[edinburgh123]

Money to spend in January. Get it fucking spent then.

Surely economically and football wise an example of bad planning. Profit is “good” but it does mean presumably 18m lost taxes we could have invested hence when you add on the extra Alverez and other money we must spend this financial year

 

[manimanc]

As a former auditor, this feels like incredible news.

Tell me more...

 

[Bluewonder]

Surely economically and football wise an example of bad planning. Profit is “good” but it does mean presumably 18m lost taxes we could have invested hence when you add on the extra Alverez and other money we must spend this financial year

We don't pay corporation tax due to historical losses.

 

[Bluewonder]

Tell me more...

In short:

Previously, the auditors were worried enough to require its inclusion as a significant risk to the club's financial viability.

This is no longer the case.

 

[manimanc]

In short:

Previously, the auditors were worried enough to require its inclusion as a significant risk to the club's financial viability.

This is no longer the case.

Woop woop.
You'll do for me cocker.

 

[cookster]

The above is interesting, I'd take it that we don't expect further need to cover appeals etc.

On the profit, while profit is good I'm a little concerned that being frugal in the transfer market & making probably all the profit from selling kids we're not rolling in much higher profits.

Suppose it'll balance in the long run.

sad but true, they know we're desperate and have holes to fill all over the pitch. We'll get rinsed for sure.

Not really.
Quite a few clubs will have to sell for PSR. Howe mentioned it recently that Newcastle are at risk.
Plus release clauses help.

 

[BeerIsTheBest]

Complete the hotel. Sell it to another legal entity under the City umbrella. Retain the ongoing profits, shuffle the money around in plain sight, drink ale and eat pies. What do you mean you can’t do that! Like the more educated posters have written and ticket prices argument aside this announcement is a belter.