Manchester City plans to support manager Pep Guardiola in the transfer market in January after revealing record revenues on Friday amid a reduced wage bill.
The yearly report shows revenues of £715 million and a profit of £73.8 million for the year ending June. Salaries dropped from £422 million to £412 million, despite hiring 91 new staff.
The club plans to invest in the January transfer window, prioritising a midfielder, and reported a £139 million trading profit, excluding additional player sales valued at nearly £93 million.
These financial results suggest City can enhance Guardiola’s squad after a tough run of seven losses in ten matches, as they highlight their financial strength before the Manchester derby against United.
The report also included the independent commission’s hearing regarding Premier League allegations of financial misconduct, expressing that City “welcomes the review to assess the evidence supporting its position.”
Chairman Khaldoon Al Mubarak stressed the club’s ongoing ambition and commitment to improvement, rooted in a collaborative culture since His Highness Sheikh Mansour became the club’s custodian in 2008.
