Football

Manchester City record annual profits for first time since 2008 takeover

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Manchester City have achieved their goal of becoming a profitable self-sustained club, Sky Sports have reported.

Ever since Sheikh Mansour took the reigns at the Etihad back in 2008, the target has always been long-term success both on and off the pitch.

Of course, the early years were more of a quick fix job - raid the transfer market for the best players they could find in order to enhance a mediocre squad and win silverware.

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Equipped with naivety, the Sky Blues were linked with a host of Premier League stars, such as John Terry, Steven Gerrard and even Wayne Rooney after his bust up across the city with Sir Alex Ferguson.

After all this investment in players from the Abu Dhabi group, though, their investments off the pitch, most notably the £200 million Etihad campus, look to have finally paid off.

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Thanks to record revenue profits of up to £350 million along with zero financial debt, City are now a self-sustained entity.

In an interview for CityTV, chairman Khaldoon Al Mubarak spoke of the progress made by the Citizens in all aspects of the game.

He said: "It's a strategy, built on long-term sustainability and the on-going development of momentum year-after-year

"Our transition to profitability has been a long-term milestone - one targeted and one worked diligently with his highness Sheikh Mansour's acquisition of the club back in 2008.

"As a result, to put things in their simplest terms, we are now a profitable business with no debt and no outstanding restrictions"

Comforting words to the ears of City supporters from Al Mubarak, with the Premier League leaders now left with nothing but their pursuit of their third Premier League title in five years to focus on.

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Topics:
Premier League
Manchester City
Football

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