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

[Didsbury Dave]

I've got that wrong as a cumulative figure (over the years) of £6.5mil on charities and community is quoted in the Annual Report

I thought so!

 

[Tim of the Oak]

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.

It depends partly on the return on investment owners expect. Also, our main owner is long standing where the vast majority of Prem Clubs have been sold since the Sheikh bought City and they expect to invest to grow early on (within legal / Prem constraints).

 

[Didsbury Dave]

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.

Not many clubs are as successful as us. We should be making an operating profit in a season we won’t the league and got close to the end of the chapoions league and other tournaments.

 

[BungleBear]

Not many clubs are as successful as us. We should be making an operating profit in a season we won’t the league and got close to the end of the chapoions league and other tournaments.

The profit was £105m excluding buying and selling players in effect. I don't think it is too bleak. The fact amortization reduces the operating profit by £165m but player sales don't affect it maybe slightly misleading, that is what they also give the operating profit excluding player trading figure of £105m.

 

[halfcenturyup]

It depends partly on the return on investment owners expect. Also, our main owner is long standing where the vast majority of Prem Clubs have been sold since the Sheikh bought City and they expect to invest to grow early on (within legal / Prem constraints).

I wouldn't be surprised if the club aims for player "trading" (amortisation less profit on sale) to be negligible each year. That shouldn't be impossible with the club's academy. According to the accounts, there is already over 90 million in the kitty for this year.

Also, I doubt Mansour is looking for an annual return from a football investment. He is more likely to be looking at long-term value growth. Shouldn't confuse his approach with a cunting US hedge fund. And I doubt Silverlake would be on board with City if they didn't share this view, at least in this case. I think they probably see the value in the CFG bigger picture.

All imho, of course.

 

[SilverFox2]

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.

Regarding tax planning CFG is the Holding Company so I assume any taxation of City can be offset against losses in other CFG Companies.
Maybe UK tax rules have changed since my working days at a Holding Company.?

 

[WRicko]

Not many clubs are as successful as us. We should be making an operating profit in a season we won’t the league and got close to the end of the chapoions league and other tournaments.

tell me how many clubs make profit excluding player sales ? I bet even the successful ones dont

 

[WRicko]

It depends partly on the return on investment owners expect. Also, our main owner is long standing where the vast majority of Prem Clubs have been sold since the Sheikh bought City and they expect to invest to grow early on (within legal / Prem constraints).

What’s your point ? That we should be making a profit before player sales ? Why ? When others don’t ? Being long term is good but I don’t see why that means we should make a profit before player sales if anything it means the opposite ( capital growth and continued capital expenditure more important)

 

[WRicko]

Not many clubs are as successful as us. We should be making an operating profit in a season we won’t the league and got close to the end of the chapoions league and other tournaments.

Also not many clubs will be spending what we are on assets players or the campus not sure exactly how the campus is split between CFG and City mind

 

[Keeper!]

It depends partly on the return on investment owners expect. Also, our main owner is long standing where the vast majority of Prem Clubs have been sold since the Sheikh bought City and they expect to invest to grow early on (within legal / Prem constraints).

Totally agree but investment in the team has to be a priority as we have seen and a drop off and loss of CL could be a disaster for turnover/profit.

We have been happy to stockpile cash by selling players but what use is that if our status and success fades?