City Football Group’s losses near £1 billion despite Manchester City’s profits | OneFootball

City Football Group (CFG), the parent company of Manchester City, has recorded a staggering combined loss of £972m, according to The Athletic. This comes after registering a pre-tax loss of £122.2 million for the 2023-24 season. Founded in 2013, CFG is majority-owned by Sheikh Mansour bin Zayed Al Nahyan.

The group derives its name from Manchester City, its flagship football club, and serves as its parent company. CFG also owns stakes in clubs across the United States, Australia, India, Japan, Spain, Brazil, Uruguay, China, Belgium, France, Italy, and Turkey.

Despite Manchester City posting an impressive pre-tax profit of £103.4 million, CFG’s overall financial figures for the 2023-24 season marked the third consecutive year of losses exceeding £100 million. City Football Group’s total revenue exceeded £930 million, with over £700 million coming from four-time Premier League champions Manchester City. The next biggest contributor was Girona, who reported revenue just above £50 million.

Manchester City currently sit outside the Premier League’s top four. Failing to qualify for next season’s UEFA Champions League could severely impact their revenue. Additionally, the club faces the looming threat of potential punishments related to the 115 charges brought against them by the Premier League, with a verdict expected soon.

The defending champions trail league leaders Liverpool by 23 points and were knocked out of the UEFA Champions League in the playoff round by Real Madrid. However, they remain in contention for silverware in the FA Cup, where they will face Bournemouth in the quarter-finals.

Up next for Pep Guardiola’s side is a home fixture against Brighton & Hove Albion in the Premier League. The Seagulls, who also have European ambitions, won the reverse fixture earlier this season. City, who started the campaign strongly before hitting a slump, will need a strong finish to ensure they remain among Europe’s elite next season.

Clubs Owned by City Football Group