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

Two things that slightly worry me when I look at these.

The first is the £60m operating loss, which (bar the Covid season) is the highest since 2012. That's in spite of record revenue. This figure excludes profits on the sale of players, which turn that loss into a profit.

The other is the composition of the board. Good corporate governance should see a board that's a mixture of executives, non-executives and independent non-executives. Ours has no executives or genuinely independent non-executives. That's also the case for CFG. I'm not Soriano's biggest fan by any means but I find it quite bizarre that he's not on either the City or CFG boards.

The chairman is brilliant, the best we could have, but it's worrying that his fellow board members all appear to be business cronies of his, or of Abu Dhabi. I'd like us to set a better example.
 
invisibleandalone said:
Are we going to see Neville saying "It's impossible" again, after the the latest accounts. The cartel will again be shown how a club should be run. It's going to get even more vein popping when the North stand is complete plus the revenue from the Co-Op arena !!!!
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I hope he does and I hope that scruffy scouse twat will be shrieking and having a hissy fit about it again.
We live in these pricks heads all day every day.
 
Prestwich_Blue said:
Two things that slightly worry me when I look at these.

The first is the £60m operating loss, which (bar the Covid season) is the highest since 2012. That's in spite of record revenue. This figure excludes profits on the sale of players, which turn that loss into a profit.

The other is the composition of the board. Good corporate governance should see a board that's a mixture of executives, non-executives and independent non-executives. Ours has no executives or genuinely independent non-executives. That's also the case for CFG. I'm not Soriano's biggest fan by any means but I find it quite bizarre that he's not on either the City or CFG boards.

The chairman is brilliant, the best we could have, but it's worrying that his fellow board members all appear to be business cronies of his, or of Abu Dhabi. I'd like us to set a better example.
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I haven’t read it but I’m amazed we made a 60m operating loss in a season where we won the league, got to the FA cup final and came close to winning the champions league. That’s not good news for anyone worried about Matchday prices.
 
Operating losses might not be easy to overcome. Wages remain high, there's been a big rise in external charges and the cost from player amortisation registrations went up £20mil.
 
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Prestwich_Blue said:
Two things that slightly worry me when I look at these.

The first is the £60m operating loss, which (bar the Covid season) is the highest since 2012. That's in spite of record revenue. This figure excludes profits on the sale of players, which turn that loss into a profit.

The other is the composition of the board. Good corporate governance should see a board that's a mixture of executives, non-executives and independent non-executives. Ours has no executives or genuinely independent non-executives. That's also the case for CFG. I'm not Soriano's biggest fan by any means but I find it quite bizarre that he's not on either the City or CFG boards.

The chairman is brilliant, the best we could have, but it's worrying that his fellow board members all appear to be business cronies of his, or of Abu Dhabi. I'd like us to set a better example.
Click to expand...
There’s a guy on Talkshite who has unbelievable football business experience
 
Prestwich_Blue said:
Two things that slightly worry me when I look at these.

The first is the £60m operating loss, which (bar the Covid season) is the highest since 2012. That's in spite of record revenue. This figure excludes profits on the sale of players, which turn that loss into a profit.

The other is the composition of the board. Good corporate governance should see a board that's a mixture of executives, non-executives and independent non-executives. Ours has no executives or genuinely independent non-executives. That's also the case for CFG. I'm not Soriano's biggest fan by any means but I find it quite bizarre that he's not on either the City or CFG boards.

The chairman is brilliant, the best we could have, but it's worrying that his fellow board members all appear to be business cronies of his, or of Abu Dhabi. I'd like us to set a better example.
Click to expand...
I don’t think many clubs are making a profit and even fewer will be making a profit if you strip out player sales. So I don’t think it’s such an issue.
 
Tim of the Oak said:
Operating losses might not be easy to overcome. Wages remain high. If I read it right we are spending £42mil on charitable and community donations and the cost from player amortisation registrations went up £20mil.
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We spent £42m on charitable donations and made a £60m operating loss?!?!?!?!?

Not doubting you mate but if we did that sounds very much like “tax planning” to me. Corporation tax has gone right up.
 
Looking forward to the breakdown of the figures by Swiss Ramble. He always makes the breakdown of figures easy to understand.

He’s recently done AC Milan, Roma, PSV, PNE, Hearts, Norwich, Benfica, etc.

x.com

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