For the fifth consecutive year, we are a profitable business, posting a total profit of £10.1 million. Success on the field was a major driver of revenue uplift, and we can report a 20% increase in revenue from broadcast fees.

Our wage-to-revenue ratio now sits at 58%, and we are one of only three Premier League clubs to perform significantly better than expected on the basis of player wages, when actual performance is compared to an estimate linked to investments in the squad.

We are delighted to report that 99% of fans feel positively towards the Club, and similarly high proportions think that City is well run (99%) and has a long-term vision (98%).

HAVING PASSED THE £500 MILLION MILESTONE FOR THE FIRST TIME IN THE CLUB’S HISTORY LAST YEAR, MANCHESTER CITY INCREASED ITS REVENUES FURTHER, BY 6.9%, TO £535.2 MILLION IN 2018-19.

54

PERFORMANCE

Manchester City 2018-19 Annual Report

CITY POSTED A PROFIT FOR THE FIFTH CONSECUTIVE YEAR

55

CLUB REVENUE

Continued growth in Manchester City revenues

Matchday Broadcast Commercial

7%year-on-year

Manchester City 2018-19 Annual Report

SOURCE: Manchester City

56

A fifth consecutive year of profits

CLUB PROFITABILITY

Manchester City 2018-19 Annual Report

SOURCE: Manchester City

£5m

2014-15

£10m

£15m

£20m

£25m

2015-16

£20.5M

2016-17

£1.1M2017-18

£10.4M

2018-19

£10.1M£10.5M

PREMIER LEAGUE CLUBS’ PERFORMANCE

Actu

al v

s ex

pect

ed

21st

Clu

b W

orld

Sup

er L

eagu

e (W

SL) r

atin

g*

SOURCE: 21st Club’s World Super League (WSL)

57

PERFORMANCE V WAGE COSTS

Analysis by sports intelligence agency 21st Club shows that Manchester City was one of only three Premier League clubs in 2018-19 to have performed significantly better than expected on the basis of player wages

*Actual WSL score based on clubs’ performance against other teams in domestic and international fixtures. Expected WSL score based on players wages

3 CLUBSOutperform expected rating by more than 50 points

10 CLUBSWithin 50 points of expected rating

7 CLUBSUnderperform expected rating by more than 50 points

Manchester City 2018-19 Annual Report

58

SOURCE: Premier League Matchday Fan Experience Survey 2018-19

Proportion of Manchester City match attenders surveyed who agree that their club performs well in the following areas

FAN PERCEPTIONS

92% Sustainable �financial�

policy

Has a long-term

vision

Maintains the ethos

and traditions of the club

92%

98%

Manchester City 2018-19 Annual Report

SOURCE: Brand Finance Football 50, May 2019

59

BRAND VALUE

With a 2019 brand value of €1.3bn, Manchester�City�was�the�fifth�most�valuable�football brand overall in Europe, and the second biggest English club

MOST VALUABLE FOOTBALL BRANDS GLOBALLY

1.REAL MADRID FC €1.6BN

2. MANCHESTER UNITED FC €1.5BN

3. FC BARCELONA €1.4BN

4. FC BAYERN MUNICH €1.3BN

5. MANCHESTER CITY FC €1.3BN

14%rise in brand

value

Manchester City 2018-19 Annual Report