Thread by @vysyble

A thread on #ManCity's financials...

Revenue growth has been a straight-line trend since 2009. With #UEFA's #UCL ban and fine, we expect annual revenue to drop below £500m for 2021-22. 1/7

Staff costs trend has been tempered by formation of City Football Group and the assumed transfer of some #MCFC costs into the new holding Co. #ManCity currently run 2nd-highest staff costs in English football behind #MUFC (£315.26m vs £332.30m). 2/7

#ManCity's revenue split highlights low Matchday take relative to Commercial/TV income. #MUFC Matchday ££ is 17.67% (£110.80m) of revenue vs #MCFC's £55.01m (10.28%). #UEFA TV payments over last 4 yrs averaged £62.94m based on performance etc. Current TV revenue £252.18m. 3/7

#MCFC regularly declares pre-tax profits albeit v.low relative to revenue. However, club achieves consistent economic losses when cost of equity capital and taxation taken into account. 4/7

During #MCFC's financial expansion immediately following UAE acquisiton, club achieved significant economic losses. Note current #CFC and #EFC performance. 5/7

In most recent 5 yrs, #ChelseaFC has surpassed #ManCity's economic losses. #UEFA ban may result in increasing economic losses for #MCFC depending on club's strategy for keeping squad, staff and sponsors on board. 6/7

An explanation of economic profit can be found here...

vysyble.com/economic-profit