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Ammon News - Premier League champions Manchester City have posted a best-ever profit of £41.7million for last financial year.

The figure is more than double the club’s previous biggest gain, in 2015-16, and came off the back of a record revenue of £613 million, itself an increase of £43.2million on the previous twelve months.

Profits were boosted by significant player trading that included the high profile sales of Gabriel Jesus (Arsenal) and Raheem Sterling (Chelsea).

Eight Academy graduates also got moves - several with buy-back clauses for City. Around £250 million has now been generated by transfers in the last five years.

City’s shrewd dealings in the market generated the highest-ever gross receipts from player transfers by any club in the history of the English top flight.

Revenues were also boosted by a fourth Premier League title win in five years, reaching a semi-final of the Champions League, highest ever partnership revenues and the return of fans to games after a season decimated by the Covid pandemic. The Etihad Stadium enjoyed 99 per cent occupancy rates for Premier League games.

The year’s football and financial results delighted chairman Khaldoon Al Mubarak whose statement in the annual report declared City were closing in on their target to be the leading club in the game.

“In 2008, we gave ourselves the target of exceeding the benchmarks that had been set by others within football; and in doing so, to also exceed the new standards that we believed leading clubs would achieve in the time it would take us to catch-up,” he wrote.

“Our aim was clear – to one day be the club that set the benchmark for others. The statistics and results show that in many ways we are beginning to achieve our long-term ambition.

“As the 2021-22 season ended, our men’s team, under Pep Guardiola’s stewardship, lifted the Premier League trophy for the fourth time in five years; our youth teams won the U18 league titles and the Premier League 2 for the second successive year. A clean sweep of Premier League titles two years in a row. In addition, our women’s team qualified for the Champions League for the seventh successive season. Over the summer, seven City players went on to lift the women’s Euro 2022 trophy.

“Important off-field metrics also gave us the right indications. Our motivation to place the Covid-19 pandemic firmly behind us helped our talented people achieve the most successful financial year in the club’s history; the best players in world football are making us their destination of choice; our player trading was executed with great skill and positive financial outcomes, and our commercial partnerships continued to deepen and expand by geography and sector.”

Al Mubarak also promised that City would not stand still or rest on their laurels as the pursuit of even more on and off the field success continues at a relentless pace. He promised more ground-breaking innovation.