Manchester City post £10m profit despite ‘below par’ 2015

Manchester City have made a profit for the first time since the club’s takeover by Sheikh Mansour in 2008 – and despite what the chairman describes as a “below par” season on the pitch.

City made a £10.7 million (€14.4m) profit in the 2014-15 season despite failing to win a trophy – figures which highlight how the club have been able to free themselves of any Uefa financial fair play sanctions.

The club reported record revenues of £351.8m (€474m), up from £347m (€468m), but significantly have cut costs including reducing the wage bill for a second successive year.

The wage bill is down to £193.5m compared to £205m a year before – Manchester United’s is £203m and Arsenal’s is £192.2m. The most recent figures for Chelsea’s wage bill are £192.7m for the 2013-14 season.

City hailed the profit as an “historical step” but chairman Khaldoon Al Mubarak said the lack of silverware last season remained a cause for disappointment, a statement which may serve as a warning to manager Manuel Pellegrini.

Khaldoon said: “The fact that we consider last season to be below par for Manchester City is a testament to how far we have come in the last seven years. This is a level of ambition that we should not shirk or shy away from.

“No team can expect to win every year, but competing to win in England’s domestic competitions and improving our performance in the Uefa Champions League are entirely reasonable goals for Manchester City.”

City’s financial results show the club are now competing with neighbours Manchester United off the pitch as well as on it.