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  • Man City suffer massive revenue losses in 2019/20

    Man City post massive losses due to COVID-19...but all is not lost for English giants

    April 9, 2021 By Michelle Bonsu
    Topics: Manchester City, English Premier League
    The Sky Blues, like many other big clubs in Europe, were hurt badly by COVID-19...but are confident of a swift recovery.

    Currently on top of the Premier League by a very comfortable 14-point margin, into the semi-finals of the FA Cup, in the EFL Cup finals and competing in the quarter-finals of this season's Champions League: it's all going very well for Manchester City this season.

    Pep Guardiola's men are well on course to potentially become the first side to win a Quadruple, provided that everything goes their way.

    And that's despite posting some terrible financial figures for the 2019/2020 season. During that term, which ended on June 30, 2020, the Sky Blues ended up posting a total annual revenue of $653 million (£478.4 million). That was a drop of $78.3 million (£56.8 million) as a result of COVID-19 shutdowns, which brought a slew of income streams, including gate tickets and other broadcasting revenues to a screeching halt. 

    Despite these massive losses, the Sky Blues did finish second to eventual Premier League champions Liverpool and also won the League Cup. Their leadership, spearheaded by chariman Khaldoon Al Mubarak also believes that at the worst, City will end up losing no more than approximately $82.7 million (£60 million) per year over the ensuing 24-month period.

    Moreover, the club will be including some cash inflows, such as the sale of Leroy Sane to Bayern Munich, which brought in an estimated $75.5 million (£54.8 million) to Man City's coffers in their next report. All in all, the club's executives clearly anticipate that the organization will be back in the black soon after a difficult period that saw them suffer an 11 per cent drop in overall income streams as a result of COVID-19, as evidenced by Al Mubarak's recent comments:

    "Like most organisations, we did not have a business strategy for a global pandemic. [Thus], whilst [the] 2019/20 [fiscal year] produced financial figures none of us expected, or wanted to see, the year needs to be viewed in the context of both of the seasons that will have ultimately been affected by the pandemic.

    "[However we do expect] that we will return to profitability in the second of those Covid seasons, the 2020/21 financial year."

    Manchester City have a very busy week ahead of them, to say the least. Guardiola's troops first will take on Leeds United in league play on Saturday, April 10th, followed by a trip to Germany to complete business against Dortmund four days later in the Champions League on Wednesday, and then will lock horns with fellow English giants Chelsea in the FA Cup semis at Wembley on April 17th.

     

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