Several factors contributed to the Club’s record-breaking financial results and continued profitability, including fans returning to the Etihad Stadium and the increase of the Clubs’ wider commercial revenues.
Profits were also boosted by significant player trading. The £67.7 million profit City generated from the transfer of players’ registrations took the total above £250 million over the last five years and this will grow even further in 2022/23 following the club’s unprecedented transfer business in the 2022 summer window.
When speaking about this business performance, Chairman Khaldoon Al Mubarak states: “As we reflect on the 2021/22 season, I do so with immense pride in the work and commitment of all of our City family, that has allowed us to emerge from the pandemic with strong finances and further on-pitch successes. We should feel uplifted by the collective achievements of so many and look to the future with anticipation, knowing our Club is committed to accomplish so much more.”
Chief Executive Officer Ferran Soriano echoes these sentiments: “Our strong revenue performance was due to multiple factors, but ultimately driven by the beautiful football we play and the continuous fan growth that it generates; more fans, more audiences, more people in the stadium, and more partners that want to be commercially associated with Manchester City.”
This growth impacted external independent benchmarks with Brand Finance naming Manchester City the second most valuable football brand in the world, with a valuation of €1.33 billion.
In the report, the Chairman puts the 2021/22 financial performance into strategic context: “In 2008 we gave ourselves the target of exceeding the benchmarks that had been set by others within football; and in doing so, to also exceed the new standards that we believed leading clubs would achieve in the time it would take us to catch-up. Our aim was clear – to one day be the Club that set the benchmark for others. The statistics and results show that in many ways we are beginning to achieve our long-term ambition.”
Soriano continues: “Ultimately, the 2021/22 season was representative of the football standards that we have set ourselves as we continued to deliver on our ownership’s vision and plans.”
All major Club activities are detailed in the report starting with the Club’s remarkable on-field statistical successes last season. This of course includes the men’s first team winning the Premier League trophy for a remarkable fourth time in five years under Pep Guardiola’s leadership – and doing it in style, scoring more goals than any other team (99). Additionally, the squad reached the semi-finals of the Champions League, marking 10 Champions League qualifications in the last 10 years and making City the only Premier League club with this achievement over that period.
The report also details the success of City’s youth. In addition to an impressive number of first team debuts, City’s Academy won the Premier League Under-18 title and the Elite Development Squad landed the Premier League 2 crown. Therefore, for an incredible second year, City had a clean sweep of the available Premier League titles at Academy and senior level. “This is an unprecedented collective achievement and points to the bright future for our Academy graduates,” says Soriano.
A key aim of the Academy has been to develop players not only for City’s first team, but also to help players begin professional careers in football for any club. Since 2011/12, almost 200 Academy graduates have gone on to have active professional careers in the Premier League, lower English leagues or in the main European leagues. In the 2021/22 season alone, more than 100 CFA graduates were playing in professional football.
In addition to developing young talent, the growth of women’s football continues to be a very top priority. Last year, Manchester City women showed resiliency after an injury-hit start to the season, fought to the end, and bounced back to earn a qualification for the Champions League for the seventh season in succession.
The report highlights the parting legacies of significant City legends. Commenting on the trio of Fernandinho, Jill Scott and Karen Bardsley, the Chairman emphasizes: “Their contribution to the growth and success of City will never be forgotten. They brought to life the aims and targets we set. They were amongst the first to invest their talents and trust into the grand plans we had – and as such – they will always be part of the City family.”
The report includes recognition for Mike Summerbee who was awarded an OBE for the many charitable causes he supports. “It is such richly deserved recognition for his immense contribution to the game both as a player and as an ambassador.”
The report reveals a continuity of momentum in the business, and opportunities for the future. These elements were a focus for comment by both the Chairman and CEO.
The Chairman added: “If we are to be true to the efforts of all of those people that have contributed over the last 14 years to deliver our current successes, we must challenge ourselves to question everything we accept as optimal, and to define new and unprecedented goals and the right strategies to achieve them. This is the task that Sheikh Mansour, our shareholders, the Board and I have set our management team. In doing so we recognize the fundamental truth that continuously delivering football success for our fans will also continue to create value for our shareholders.”
“Football does not stand still. We therefore need to constantly challenge ourselves to improve upon what we have achieved. This means innovating further in Manchester and beyond. Reimagining ourselves and how we move forward in Manchester and through City Football Group.”
