The income of the holding City Footbal Group, which is 87% dependent on Manchester City, fell by 13.8%, to € 697 million, in the 2019-2020 financial year, with record losses of € 238.8 million, plus twice as much as the previous year and more than in the three previous courses as a whole, according to the accounts accessed by the 2Playbook business platform.
Ordinary income fell by 13.8%, to 633.4 million euros), while capital gains from transfers mitigated part of that fall with a rise of 14.2% year-on-year, to 56.2 million. And the holding of the City considers that, had the pandemic not exploded, it could still have obtained additional sales to reduce the economic hole of the first year impacted by Covid-19.
Box office revenue fell to € 59.5 million, down 30%, while revenue received from UEFA was 10.8% lower, to € 88.8 million.
The biggest setback, in TV revenue
The biggest decline, always according to 2Playbook, took place in television revenues from national leagues, especially those of the Premier, of 36.4%, to 157.2 million. On the other hand, the commercial area, driven by Puma, managed to grow 8.3% and contributed 328 million to the City group).
The group, which until now had two of the profit engines in the City and Girona, found that both clubs are the ones that also suffered the most from the blow that this crisis has caused.
Manchester City closed the season with a red number of 146.5 million euros, a figure that contrasts with the net profit of 11.6 million euros) obtained in 2018-2019. Its turnover was reduced by 10.6%, to 556.5 million euros after having reached its historical maximum in 2018-2019.