Manchester City have announced a Premier League record revenue of £712.8m for the 2022-23 financial year.
The figures come on the back of a season in which they became the second English club after Manchester United in 1999 to win the Treble of Premier League, FA Cup and Champions League.
This exceeds the record £648.4m posted last month by Manchester United and is a £99.8m rise on the previous year.
The revenue is less than the €990m (£861.43m) Barcelona recorded in 2019, although the validity of this has been challenged due to the ‘exceptional’ sums that were added to the overall revenue figure.
The club’s financial statement reveals increases in all major revenue streams. Broadcast revenues increased 20.2% to £299.4m. City say this was “primarily” due to their success in the Champions League and FA Cup.
Goal machine Erling Haaland, who is believed to earn a basic wage of around £400,000 a week after his move from Borussia Dortmund, contributed to the wage bill increasing by £69m from the 2021-22 season.
Al Mubarak believes that City can capitalise on finally conquering Europe, vowing that the club’s hierarchy will ‘double down’ on their strategy.
Al Mubarak said: ‘In the aftermath of the Champions League win in Turkey, the question I was asked most often, was “How do you top that?”
Overall revenue increased by almost £100m – commercial revenue accounting for £341m – while profit nearly doubled on last year, aided by the sales of Raheem Sterling, Gabriel Jesus, Oleksandr Zinchenko plus a number of academy graduates.