In 2023–24, City Football Group (CFG), the holding company that manages the multi-club ownership group led by Manchester City, reported a pre-tax loss of £122.2 million, bringing its total losses since its creation in 2013 to £972.8 million. On the other hand, Manchester City made £103.4 million in pre-tax profit within the same time frame.
The City Football Group was established in 2013 and is primarily owned by Sheikh Mansour bin Zayed Al Nahyan, with Silver Lake owning 18%. The Premier League champions are the group’s most valuable asset.
Despite a £30.3 million income tax credit that lowered the net loss from the previous season to below that threshold, CFG’s losses have now cleared £100 million in each of the last three seasons. At the completion of the 2013–14 season, CFG board member John MacBeath said the board “expects the group to be profitable within the next three years.”
CFG has yet to turn a profit each year or even approach doing so. At least the outcome from the previous season showed some stabilization, as the pre-tax loss decreased by £4.7 million, or 4%.
Man City owner CFG’s combined losses since 2013 reach £972m
The group has thirteen clubs worldwide, including in cities like Mumbai and Melbourne in India and Australia, New York City in the United States, and Girona and Palermo—plus City—in Europe.
Over £700 million of the £933.1 million in revenue reported by City Football Group was attributed to Manchester City, who won the Premier League for the fourth time in a row last season. On the other hand, New York City FC, a Major League Soccer team, brought in less than £50 million, while Girona made less than £60 million.
In the event that Manchester City does not make it into the Champions League the following season, the group’s revenue sources may be severely impacted. In addition, they might face penalties for the 115 charges the Premier League filed against them, which included financial misconduct and infractions of league procedures. The conclusion is anticipated shortly.
Pep Guardiola’s team lost to Brighton in the Premier League this weekend after losing in the Champions League playoffs.
