Revealed: Man City owners bank £494m as US jackpot uncovered
Man City parent company City Football Group have now earned £493.4million from their football operations outside the United Kingdom, Football Insider analysis shows.
The Multi-club network – which owns 11 football teams worldwide – released its 2021-22 accounts last Wednesday (5 April), presenting a £136.7m loss on turnover of £705.1m.
The vast majority of their income continues to stem from flagship club Man City, whose revenue of £613m was the highest in Europe in 2021-22.
But City Football Group’s other outposts are beginning to generate more money, especially MLS side New York City.
The 2021-22 figures showed that £92.4m was generated outside the UK, with approximately half of that figure coming from the United States.
The acquisition of historic Brazilian side Bahia – who typically average attendances of around 20,000 per match – means that total is likely to swell when the time comes to release the 2022-23 accounts.
The £92.4m figure in 2021-22 is second only to the £98.8m they trousered from non-UK football operations in 2018-19.
City Football Group do not provide a club-by-club analysis in their accounts, but profitability remains a distant goal for many of the teams in the network.
Cumulative losses since the group’s formation in January 2013 now total £1.3bn, although around £473m of that is attributable to a loan taken out in July 2021.
Man City themselves have also contributed around £106m to the total losses, although they did post a £41.6m profit in their 2021-22 accounts.
It was a fruitful year for the network on the pitch, with Man City, Girona, New York City, Montevideo City Torque, and Yokohama F. Marinos all winning trophies.
It is understood that City Football Group have no further immediate expansion plans, perhaps because of the uncertainty regarding the Premier League’s charges of financial impropriety against Man City.
In other news, Kieran Maguire makes “frightening” Man City claim amid record-breaking £52m reveal.