Manchester City owners record nine-figure losses for 2022/23 financial year

The parent company behind Manchester City have recorded nine-figure losses for the 2022/23 financial year, it has been widely reported.

The latest figures come off the back of Manchester City’s history-making Treble-winning season of 2023, which also saw the club further add to their trio of silverware with triumphs in European and global competition.

Achievements across five competitions have seen Manchester City’s global fanbase increase quite significantly in vital markets for the Premier League giants, with the club placing extra focus on Far East Asia and North America in successive pre-season tours.

However, while Manchester City have continued to soar both in terms of on-field and off-the-field figures, their parent company has issued a negative update concerning its on finances, albeit alongside another year of expansion.

As detailed by SportsProMedia earlier this week, the City Football Group or CFG have recorded losses of £112 million for the 2022/23 financial year, despite generating record revenue of £877.1 million.

It is worth pointing out that despite the losses, CFG added clubs in Italy, India and Brazil to its portfolio last year for a combined cost of £77 million, although a significant portion of that outlay was deferred.

The addition of a further three clubs to its portfolio now means that Manchester City are part of a 12-team network under the City Group umbrella, while the Premier League champions’ revenue of £712.8 million set a new Premier League record.

Elsewhere and City Group’s two other notable sides in Major League Soccer – New York City – and their La Liga outfit Girona reported annual turnover of almost £50 million.

Manchester City will return to North America this summer for a four-game pre-season tour in four different locations, with Pep Guardiola and his players taking on Celtic, Bayern Munich, AC Milan, and Chelsea.

That tour follows on from the club’s visit to Asia ahead of the ongoing season, where contests against Diego Simeone’s Atletico Madrid and Thomas Tuchel’s Bayern Munich took place in front of blockbuster stadium audiences.