Newspaper article Manchester Evening News

BLUES POST A RECORD Pounds 20.5M PROFIT

Newspaper article Manchester Evening News

BLUES POST A RECORD Pounds 20.5M PROFIT

Article excerpt

CITY have posted record profits, despite breaking their club transfer record last year.

And chairman Khaldoon Al Mubarak said that the healthy financial figures, together with the arrival of Pep Guardiola means the club is entering 'a critical new phase'.

In an astonishing turnaround, City have gone from making Pounds 98mlosses in 2011-12 to profitability for the last two years.

And the Pounds 20.5m record profit they have racked up comes despite last summer's Pounds 150m-plus transfer splurge which included the club's highest transfer fee of Pounds 54m for Kevin De Bruyne, as well as big money for Raheem Sterling and Nicolas Otamendi.

Key to the financial turnaround has been the growth of the club's commercial revenue, a major factor in the growth of turnover from Pounds 61.8m in 2006 to Pounds 391. …

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