Abu Dhabi-owned Manchester City nearly doubles profit

The club said it was on the path to “long-term financial sustainability”



Abu Dhabi-owned football club Manchester City has nearly doubled its profitability in the 2015-2016 financial year.

The English Premier League club reported a £20.5m ($25m) profit for period, up 91.59 per cent from £10.7m the previous year.

Revenue for stood at £391.8million ($478.9m) up from £351.8m.

“Manchester City has now reached a level of sporting and commercial maturity that allows one to feed the other”, said club chairman Khaldoon Al-Mubarak.

He described this as the “vision for success and sustainability” the club had been working towards since Abu Dhabi royal HH Sheikh Mansour bin Zayed Al Nahyan took over in 2008.

In the 2015-2016 period Manchester City’s parent company City Football Group attracted investment from China Media Capital Holdings valuing it at $3bn.

The club also opened its newly expanded stadium.

In an interview published in June, Al Mubarak said City Football Group, which includes football clubs New York City FC, Melbourne City FC, Yokohama F Marinos and Manchester City, will be looking to expand when the “opportunity arises”.

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