Kieran Maguire makes ‘huge’ Man City claim after £494m CFG reveal
Man City will find it ‘difficult’ to make all City Football Group members sustainable despite reporting revenues of £494million.
That is the opinion of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the sustainability of the City Football Group members.
Man City reported club-record pre-tax profits of £41.7m in the 2021/22 season, with overall revenues of £613m.
The Manchester outfit are the mothership club of the multi-club network CFG, who also recorded impressive revenues, including £92m from their non-UK clubs.
CFG’s lifetime revenue from non-UK clubs since its creation in 2013 now sits at £494m.
Maguire insists it is ‘challenging’ to judge the financial success of CFG because of their heavy losses, but believes the Club World Cup’s new format could help increase revenues further.
“I think it’s proven to be very challenging to judge because if you take a look at the losses made by CFG, they are considerable,” Maguire told Football Insider.
“And that is with Man City making a pre-tax profit of £42m. Factor in losses of £170m and there is a huge turnaround required.
“It is difficult to see how brands within CFG are going to appeal to a worldwide audience.
“Most clubs domestically are losing money and CFG clubs need to attract plenty of eyeballs.
“In due course, if these franchises start to qualify for the Club World Cup and that competition goes on to become successful then they could start to see a big financial boost.“
In other news, Aston Villa set sights on re-signing Man City star Kyle Walker