Of the £2.4billion spent by England’s top clubs, City accounted for just £23million of it. One of the conditions of Ratcliffe’s share purchase was him injecting £238.5m in shares to boost club coffers in his first year. In some quarters, the expectation was that it would go towards paying down United’s significant debt burden, yet the club’s gross debt has scarcely budged during his first year at the helm.
What do Manchester City’s recent finances look like?
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Plainly, United’s cash flow couldn’t fund such a venture and no club could fund it without backing from owners or external lenders. For their part, United have been entirely coy about where the money would come from. “As a PLC we can’t speculate too much bookkeeper manchester about the funding,” was the official line from chief executive Omar Berrada. United’s debt is £180m higher than the initial £550m borrowed against the club to enable the Glazers’ purchase. Meanwhile, the family have pocketed £1.202bn from share sales over the years. United’s domestic prize money has lagged, but the real gulf has come abroad.
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In the five seasons before the Covid-19 outbreak, Premier League clubs were generally profitable. Then How to Run Payroll for Restaurants the virus arrived and revenues stagnated or fell as wage bills and other costs kept growing. In the three years to the end of last season, City booked a cumulative pre-tax profit of £195.9m, a PSR position made stronger once allowable costs, such as investment infrastructure and women’s football, are deducted. Using a combination of estimates and figures disclosed in the accounts, The Athletic projects City’s PSR headroom in last season’s calculation came to around £324m. Transfer spending isn’t indicative of successes (wages are a much more reliable gauge), but spending as much as United have to be as bad as they are speaks to years of mismanagement. Unfortunately for Ratcliffe and INEOS, there have been few signs in their first year that the club’s wasteful transfer dealings will end any time soon.
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- As well, through April 28, City’s games have been selected for live TV 23 times.
- For their part, United have been entirely coy about where the money would come from.
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With only four games to play after that date, City can’t match the 28 times they were selected last season, meaning they’ll likely drop income from this pot, too (TV appearances have generally earned clubs just under £1m per game). City’s wages were still the highest in the Premier League (illustrated in the graphic above), as they have been in four of the last five years. Last season was also the second successive year their wage bill was above £400m, a feat only one other English club has achieved — and Chelsea’s £404m in 2023 included around £45m in managerial change costs.
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- He is starting with a series this week analysing the financial health of some of the Premier League’s biggest clubs.
- Per the source, City’s kit and merchandise ranking would be higher if all clubs’ figures were presented on a gross basis.
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- United have continued to spend like a Champions League club even as they have missed out on the competition in five of the past 11 seasons.
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- One glimmer of light in the Q2 results was commercial income improving even in a down year on the field, with United citing August’s $75m per year front-of-shirt deal with Snapdragon as a driver.
- It is not unfair to say that in a sport where mismanagement is properly punished, United would be ripe for relegation this season.
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