BUSI­NESS: CITY AN­NOUNCE PROF­ITS

English club post Dhs92.2m profit for 2015-16 sea­son

7 Days in Dubai - - FRONT PAGE -

Manch­ester City have recorded their sec­ond an­nual profit since be­ing taken over by Abu Dhabi’s rul­ing fam­ily and will now en­ter a “critical new phase” ac­cord­ing to chair­man Khal­doon Al Mubarak. The English Premier League club – who were taken over in 2008 by HH Sheikh Man­sour bin Zayed Al Nahyan – saw prof­its dou­ble to £20.5 mil­lion (Dhs92.2 mil­lion) in the 2015-16 sea­son. The only tro­phy the club won last sea­son was the English League Cup, which prompted the re­place­ment of Manuel Pel­le­grini as man­ager with Pep Guardi­ola. City did reach the Cham­pi­ons League semi-fi­nals for the first time last sea­son, los­ing to even­tual cham­pi­ons Real Madrid, but only fin­ished fourth in the Premier League. The re­sponse was pro­vid­ing Guardi­ola with about £169 mil­lion (Dhs760 mil­lion) to spend on fresh tal­ent in the sum­mer trans­fer win­dow, in­clud­ing de­fender John Stones and winger Leroy Sane. “I be­lieve the 2016-17 sea­son rep­re­sents the be­gin­ning of a critical new phase in the evo­lu­tion of Manch­ester City,” said Al Mubarak. “We know that we have the play­ing, coach­ing and off-field ca­pa­bil­i­ties at our dis­posal to achieve great things in English and Euro­pean foot­ball in the years ahead.” City, who won the English ti­tle for the first time in 44 years in 2012 and then again in 2014, are top of the Premier League after eight games. But they have never won the Euro­pean Cup and Guardi­ola faces Barcelona in the Cham­pi­ons League tonight in Group C. City have had an un­com­fort­able re­la­tion­ship with the Cham­pi­ons League and com­pe­ti­tion or­gan­iser UEFA, which pre­vi­ously re­stricted the team’s spend­ing and squad size as pun­ish­ment for breach­ing Fi­nan­cial Fair Play rules fol­low­ing large out­lays on trans­fers. With lim­its on how much money can be in­jected into the club, City have fo­cused in­stead on gen­er­at­ing more cash. City’s best Cham­pi­ons League run

helped to drive rev­enue up 11 per cent to a club record £391.8 mil­lion (Dhs1.7 bil­lion) in 2015-16. City’s Manch­ester neigh­bours United last month re­ported an­nual rev­enue of £515.3 mil­lion (Dhs2.3 bil­lion).

Manch­ester City are part of the City Foot­ball Group – which also in­cludes teams in Mel­bourne, New York, Yoko­hama – and was val­ued at $3 bil­lion last year when a Chi­nese con­sor­tium took a 13 per cent stake.

‘We have the play­ing, coach­ing and off-field ca­pa­bil­i­ties at our dis­posal to achieve great things.’ – Khal­doon Al Mubarak

CRITICAL: Chair­man Khal­doon Al Mubarak be­lieves the next phase is vi­tal for City both on and off the pitch

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