The 2014-15 season marked a historical step in Manchester City’s journey. The Club delivered an annual profit for the first time since its acquisition in 2008 whilst continuing to compete at the top of the Premier League and in the Champions League.
In the 2014-15 campaign, Manchester City’s second place finish confirmed our position as the most consistently high-performing team in the Premier League over the last four years, and once again we progressed beyond the Group stage in the UEFA Champions League. These consistent results indicate we are doing a lot of things right, but they are not enough. We will never be happy about a season without trophies. The priority and the focus of our work is to convert more of these opportunities into titles in the years ahead.
In the same period, Manchester City delivered an annual profit of £10.7m on the back of a continued increase in revenue and an ongoing reduction in costs. The financial model and the strategic investment is proven to work. Manchester City is now a profitable, self-sustainable club competing at the highest level in world football.
The seeds of this year’s profit were sown some years ago and many people have contributed to making it happen. They deserve to be thanked and recognised. We also know that this is not the end, but the continuation of a process that should take us to an even brighter future.
2014-15 has also been a year of other significant achievements:
The opening of the City Football Academy in December 2014 has brought all of our people together on a single site in Manchester and created a new hub for the global football operations of the City Football Group. We are not only proud of what we built, but of the effect it is having on the way we work and on its local community.
The rebranded Manchester City Women’s FC completed its first season and brought home the Continental Cup in October 2014, and we remain fully committed to further development of the women’s game.
Manchester City’s youth teams produced another year of stellar results with our U10, U13 and U14 sides all securing silverware and our U15 team winning two international tournaments. A significant number of young, talented Manchester City players are coming our way and we are hopeful of seeing some of them in the first team in the years to come.
The Club completed the expansion of the Etihad Stadium, increasing capacity for home games to 55,000 in advance of the 2015-16 season.
A large number of Cityzens were able to influence important decisions made by the Club during 2014-15, including deciding the funding of six youth football charities around the world through the innovative Cityzens Giving initiative.
The 2014-15 season has been the first one in which all the clubs of our Group have been playing. We have developed joint initiatives with New York City FC, Melbourne City FC and Yokohama F Marinos and we help each other on a continuous basis. We remain proud of the ongoing development of our sister clubs.
Manchester City is now a club focussed squarely on the delivery of a range of exciting initiatives that have been taking place across the organisation under the guidance of the Owner, Chairman and Board. The recent developments are indicative of the progress we have made but, more importantly, of the potential that exists for Manchester City to reach even greater heights in the future.
Manchester City Football Club, Chief Executive