Returning followers assist Manchester Metropolis to improved £42m revenue

By David Owen

November 8 – Premier League champions Manchester Metropolis have posted an improved annual revenue, as followers returned to the Etihad. The Abu Dhabi-owned membership reported a pre-tax revenue of £41.7 million for the yr to end-June 2022, versus £5 million a yr earlier.

Income swept above the £600 million mark to £613 million, as restored matchday earnings of £54.5 million offset broadcast earnings which was down largely as a consequence of covid-related disruption to the soccer programme in prior seasons. Different industrial income climbed from £271.7 million to £309.5 million, with earnings from live shows augmenting sponsorship earnings.

With working bills climbing to £640.5 million, nonetheless, Metropolis reported one other working loss, though this was down from £58.7 million to £21.4 million. The revenue on the pre-tax degree was the product of earnings on participant transfers. These held pretty regular at £67.7 million, with Ferran Torres’s transfer to Barcelona considered probably the most profitable sale accomplished within the related interval. Worker prices over the newest interval had been really marginally down on the earlier yr at slightly below £354 million.

Notes to the accounts revealed that throughout the 2021-22 monetary yr, the membership’s final mum or dad endeavor modified from Abu Dhabi United Group Funding and Improvement Restricted to Newton Funding & Improvement Sole Proprietorship LLC. The brand new entity is wholly owned by Sheikh Mansour.

The notes additionally confirmed that the membership’s mum or dad Metropolis Soccer Group took out a hefty $650 million time period mortgage in July 2021. As collateral agent on behalf of the lenders, Barclays was mentioned to have “a cost over 100% of the Group’s belongings”.

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