Man City reports record revenues in latest financial accounts but profits are down

By JAMES ROBSON The Associated Press

MANCHESTER, England (AP) — Manchester City reported record revenues of 715 million pounds ($903 million) for the 2023-24 fiscal year. Revenues were up by 2.2 million pounds ($2.78 million) on the previous year, but profits were 73.8 million pounds ($93.2 million) – down from 80.4 million pounds ($101.5 million). City’s fortunes have been transformed since being taken over by the ruling family of Abu Dhabi in 2008. The club has gone on to dominate English soccer after spending billions of pounds on some of the world’s best players and hiring Pep Guardiola as manager in 2016.