Manchester City Reveal Record £535M Revenue in 2018-19 Annual Report

Premier League champions Manchester City have announced club-record revenue of £535.2 million in their 2018-19 annual report. However, the club remains subject to a UEFA financial fair play (FFP) investigation. 

City released the results of their 2018-19 report via the club's official website, which included profits of £10.1 million, despite broadcast revenue being the only department that appeared to experience growth:

European football's governing body, UEFA, continues to investigate City for alleged breaches of rules regarding FFP, third-party ownership and youth recruitment. 

City recently had an appeal against the investigation to the Court of Arbitration for Sport (CAS) ruled "inadmissible," per Goal's Dom Farrell. They could face a ban from the UEFA Champions League if the governing body's Club Financial Control Body finds them guilty of the alleged offences.

Pep Guardiola led the Citizens to their first successful Premier League defence last season, not to mention the club's first domestic treble as they also clinched the FA Cup and Carabao Cup titles.

New York Times reporter Tariq Panja asked why the incumbent Premier League champions hadn't thrived more in the commercial sector, where they recorded almost a £5 million loss compared to 2017-18:

Club chairman Khaldoon Al Mubarak published a statement reacting to the new financial report. There, he praised last season's six titles (across men's and women's teams) as "an outcome that represents not just a season, but a decade of hard work."

Al Mubarak continued:

"As intended by His Highness Sheikh Mansour, our organisation is now at a level of maturity that enables us to plan on multi-year cycles both in terms of our management of squads and more widely across the business. This strategic planning has allowed us to create an environment in which continued on-pitch success is both possible and likely, and financial sustainability is a reality."

Football finance expert Kieran Maguire said he expected last season's Champions League winners, Liverpool, to leapfrog City in revenue when they announce their figures for 2018-19:

This is the second year in a row that City have announced revenue in excess of £500 million. The report also revealed a wage-to-revenue ratio of 59 per cent, though this is close to the Premier League average, per Deloitte.

The Citizens have grown close to matching fierce rivals Manchester United, who announced their own record revenue of £627 million in September and regularly compete among the most valuable clubs in the world. However, the Red Devils are expected to suffer in that regard as a result of their Champions League absence.

City could themselves suffer an enforced hiatus from Europe's top-tier competition depending on the ruling of their UEFA investigation, a punishment that would be sure to hinder future revenue streams.