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Record profit, turnover for league leaders Man City

Xinhua, October 18, 2016 Adjust font size:

English premier league leaders Manchester City has made record profit and revenues, the club said Tuesday in its annual report.

The club made a 20.5 million pound (25 million U.S. dollars) profit and record revenues of 391.8 million pounds (480 million U.S. dollars), its 2015-2016 annual report revealed. The club also said it was its eighth successive season of improved year on year financial performance.

In addition, Manchester City reported that their wage/revenue ratio of 50 percent is among the best in football.

Significant activities in the year, said the report, included the opening of the newly expanded Etihad Stadium, in which attendance records were repeatedly broken, as well as investment in Manchester City's parent company City Football Group by China Media Capital Holdings (CMC), which valued the Group at 3 billion U.S. dollars.

The review period covered by these results included the 54 million pound (66.2 million U.S. dollars) purchase of Belgium midfielder Kevin De Bruyne in a deal that broke the club's transfer record. It also included the 49 million pound (60 million U.S. dollars) signing of England winger Raheem Sterling and the 32 million pound (39.2 million U.S. dollars) acquisition of Argentina defender Nicolas Otamendi.

Chairman Khaldoon Al-Mubarak was pleased with the continued on and off field evolution of Manchester City, saying that the 2015-16 season was seen as a turning point in the club's evolution.

"Manchester City has now reached a level of sporting and commercial maturity that allows one to feed the other," the Chairman said.

He added: "I believe the 2016-17 season represents the beginning of a critical new phase in the evolution of Manchester City. We know that we have the playing, coaching and off-field capabilities at our disposal to achieve great things in English and European football in the years ahead." Endit