Man City expect to pass FFP after earning record £347m
MANCHESTER City chiefs believe they are set to avoid further punishment under European financial fair play (FFP) rules after achieving record revenue and slashing losses last year.
City are at risk of triggering £33m in suspended fines if they fail FFP tests again, but chief executive Ferran Soriano expects them to comply – and turn a profit this season.
Revenue was up to a club record £346.5m, putting them second only to neighbours Manchester United in the Premier League and helping to reduce losses from £51.6m to £22.9m.
“The club has come close to breaking even,” said Soriano. “We have also accounted completely for the settlement with Uefa over disputed breaches of its financial fair play regulations dating back to 2010. We have budgeted for a profit in 2014-15 and now expect to be entering the 2015-16 season with no outstanding sanctions or restrictions.”
City’s losses include the £16m fine paid for FFP breaches, though that sum will not count against the club in Uefa’s next assessment.
Income was boosted by their title-winning campaign, a 51 per cent increase in broadcast revenue driven by a more lucrative central contract, and a 16 per cent rise in commercial partner earnings.
Chelsea last month revealed 2013-24 revenue of £319.8m, while Arsenal’s was £301.9m. Real Madrid have the world’s highest of £480m.