Mubarak calls CFG a ‘machine’ after Manchester City make record profit
Chairman ‘very pleased’ with 16.3% growth in revenueSeason tickets sell out despite 5-11% increase in price
Manchester City’s chairman, Khaldoon al-Mubarak, has described the City Football Group (CFG) as a “financial and economic machine” after it posted revenue of £877.1m for the year to 30 June 2023, despite a £126.9m pre-tax loss. CFG is a 13-strong multi-club organisation of which City are the flagship club.
The champions’ £712.8m revenue generated the majority of income for the group, the loss deriving from the other clubs. City’s revenue increased by £99.8m, 16.3%, from the previous season for a record £80.4m net profit. In his annual interview last week with club channels Mubarak said: “I’m very pleased with the results. These results are very sustainable because we have now a very clear foundation that’s been built over many years.
