Man City would have been 10th rather than fifth in football’s revenue rankings in 2017/18 without £135m described by The Athletic as “disguised funding”.
The claim comes in the second part of The Athletic’s look at City’s finances during the period covered by the club’s case.
In 2008/09, City’s revenue stood at £87m, around a quarter of Real Madrid’s figure. By 2017/18, it had reached 75 per cent of Real’s total, and City were fifth among football’s highest earners.
Man City would have dropped five places
The Athletic says the picture changes significantly if £135million in what it calls “disguised funding” is taken out of the 2017/18 figures. On that basis, City would have been 10th in the revenue table rather than fifth. They later reached the top of football’s revenue rankings in 2022.
The figures are part of the wider examination of City’s finances following the verdict in their case. City have appealed against the findings and maintain that the evidence supports their position. The outcome of that appeal is still awaited.
But, if nothing, this proves that until a conclusion is reached, the finances over the period of City’s era of dominance will continue to be scrutinised
