Man City bag extra £60m+ after sensational twist - sources

James holds a degree in Sports Journalism and Communications (MA) from the Real Madrid Graduate School. He has experience working for a number of local news outlets as well as the Sunday Mirror and Real Madrid TV. James is from Scunthorpe and has an affinity with Scunthorpe United, but is also a huge West Ham supporter and an expert on all things to do with the Hammers. He started working for Breaking Media in July 2023, initially writing on the Club Sites, where he specialised in West Ham content, before moving to Football Insider – where he is now an expert in football finance, speaking regularly with Stefan Borson and Keith Wyness to generate high-quality content in all things related to finance in the Premier League, Football League, and Scottish Premiership.

Published on:

28 Aug 2024, 10:11 am

Manchester City’s wage bill is likely to have dropped by more than £60million last season, sources have told Football Insider.

The Premier League champions recorded an English record-high wage bill of £422.8million in 2022-23 – marking a £68.8million rise on the previous year following their on-field success.

Man City paid out around £70million in exceptional bonuses to their staff after claiming the Premier League, FA Cup and Champions League.

But Pep Guardiola’s side weren’t quite as successful last season, with their fourth league title in a row being their only major honour across the campaign.

Sources have told Football Insider that should see their wage bill drop back down to somewhere between £350-360million for the 2023-24 season.

Man City reduced wage bill after senior player exits

Man City managed to free up some extra space in their wage bill last summer after several high-earning stars left the club.

Senior players Ilkay Gundogan, Riyad Mahrez and Aymeric Laporte left on permanent deals, while Joao Cancelo joined Barcelona on loan and Kalvin Philipps headed to West Ham temporarily in January this year.

Each of those players were on well in excess of £100,000 a week, leading to some big cost savings for the 2023-24 season.

But their departures did free up room for the big-money signings of Josko Gvardiol, Jeremy Doku, Matheus Nunes and Mateo Kovacic, who were all handed lucrative contracts at the Etihad.

It’s been a quiet summer transfer window this time around by Man City’s standards, with Savinho’s arrival and the return of Gundogan marking their only new additions.

Guardiola’s side have, however, managed to rake in more than £100million following the sales of Cancelo, Julian Alvarez, Taylor Harwood-Bellis, Sergio Gomez and Tommy Doyle.

Finance expert Stefan Borson told Football Insider Man City will make around £45million worth of profit from Alvarez’s move to Atletico Madrid.

In other news, Man City respond to Rodri exit news as “double-your-money” offer revealed.

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