Manchester City have announced the third highest revenues in the club’s history, despite missing out on silverware for the first time in eight years.
The club's annual report, released on Tuesday, revealed revenues of £694.1 million over the 2024/25 period while reporting a loss of £9.9m.
This comes after Pep Guardiola's side missed out on a fifth consecutive Premier League crown after finishing third behind title-winners Liverpool and second-placed Arsenal. They were also narrowly beaten by Crystal Palace in the FA Cup final at Wembley.
But their third-place league finish did mean City secured Uefa Champions League football for a 15th consecutive campaign.
The report also outlined how the City playing squad was strengthened by the arrival of the likes of Tijjani Reijnders, Rayan Cherki and Nico Gonzalez.
It also highlighted how “the world’s most prolific striker” Erling Haaland had signed a 10-year contract extension with the club and also the exit of Kevin De Bruyne, “one of City’s all-time greats”, and the long-serving football director to , who was replaced by Hugo Viana.
Spanish midfielder Rodri became the first City player to win the Ballon d’Or while Nico O’Reilly became the latest academy graduate to earn a place in Guardiola’s first-team squad.
“I believe that we may look back on this year as one that was pivotal for the ongoing and long-term strengthening of the club,” chairman Khaldoon Al Mubarak said in the report.
“Our focus on continuous improvement did not diminish in any way, and the season saw everyone across the organisation remain committed to the ongoing evolution of Manchester City both on and off the pitch.
“There is no doubt that last season’s football results were less than we had hoped for. There are clear and understood reasons for that, including an unfortunate run of significant injuries, but seasons like this are an inevitable part of the game.
“In the world’s most competitive league, no team can expect to win every year, and I am confident that the lessons from the challenges that we have faced over the last 12 months will only make us stronger as a club and make our future successes even more rewarding.”
The report also spelt out how there has been “significant progress” on the Etihad Stadium's £300m North Stand development, which will open before the end of the 2025/26 season.
“The club’s fundamentals continue to be very strong, and we remain firmly committed to our long-term strategy built on beautiful football, operational excellence, community impact and continuous innovation,” said chief executive Ferran Soriano.
“As a demonstration of this commitment, we saw Erling Haaland and Puma sign long-term contract extensions with the club.
“We endured a difficult season from which we learnt a lot, and whatever success we achieve in the future will be, in part, thanks to the learning and the character we developed under difficult circumstances. 'Win or learn' as we often say to ourselves.
“We look to the future with ambition and determination, convinced that we have the systems, people and culture in place to continue our ambitious journey.”
