Man City announce record revenues and promise Pep Guardiola can deliver success playing beautiful football
City coined £473million in revenues last year as they continue to grow off the pitch - even though annual profits were down to just £1m.
MANCHESTER CITY'S top brass have predicted stunning football AND success under Pep Guardiola.
Announcing new record revenue of £473million for the last financial year, chairman Khaldoon Al Mubarak admitted falling short on trophies in Guardiola’s first season was a “disappointment”.
But with City already eight points clear of the Premier League pack after 11 games, the City hierarchy clearly believe Guardiola will be delivering the football the club craves as well as the silverware wanted.
And while chief executive Ferran Soriano conceded last term was “unsatisfactory”, he is convinced it had sown the seeds for a campaign to remember.
Soriano said: “Last season the team showed exactly the type of quality football we want to be playing.
“We are committed to playing beautiful football and to win. Both elements are compatible and the second is a consequence of the first.
“I am convinced we will see further progress and silverware in the seasons to come.”
Soriano’s views were echoed by Khaldoon, who suggested last term was “a season of promise and of some very real highlights”.
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He added: “Targeted investment in the summer of 2016 in some talented young players, blended together with the existing capabilities in our squad, led to an impressive start to the season and some memorable performances.
“We entered the new season with a justifiable sense of ambition and expectation.”
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Off the pitch, despite a change in accounting periods which saw the club record a profit of just £1.088m over the 13 months to the end of June, revenues rose by 21 per cent to £473.4m.
The ratio of wages to revenue stood at a “healthy” 56 per cent and the club pointed to the “unprecedented success” of their women’s team.
England under-17 World Cup winner Phil Foden was picked out by Khaldoon as an example of the long-term vision.
Khaldoon added: “The ongoing development of Phil Foden and Brahim Diaz in particular, continues to be encouraging and our commitment to nurture our own talent remains a central pillar for the Club’s long-term sustainability.”
