Manchester City's profit stalls as revenue rises to £535 million
Getty Images | It was unclear why the rise in wages was so significant for the club, who have previously been accused of hiding player and staff wages in shell companies in order to be compliant with the Financial Fair Play rules.
A rise in revenue to £535.2 million was due to an increase in income from UEFA broadcasting, Manchester City's just-released annual report for the 2018/19 season shows.
The club's net profit, however, did not change significantly from last year, coming in at £10 million due to a huge increase in wages undermining growth in other areas.
City's commercial revenue decreased by 2.8 per cent, an unsatisfactory result which, according to the club, was because of a reduced number of concerts held at their Etihad Stadium.
19 November 2019 - 3:35 PM
Get smarter in minutes. Straight to your inbox
21-day free trial
Activate instantly with the link we’ll send you.
