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Tuesday, June 25, 2024

Man City hailed for ‘prudent’ approach to becoming ‘financial machine’ by chairman Khaldoon Al Mubarak

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Chairman Khaldoon Al Mubarak declared that Manchester City are a “financial and economic machine” and predicted they will go from strength to strength as a profitable business.

Al Mubarak declared that the City Football Group are pioneers and it is a sign of their success that their employees are being poached by rival clubs – with Omar Berrada due to start as chief executive for neighbours Manchester United next month.

Manchester City posted a record revenue of £712m for the 2022-23 year but while their prospects for the future could be threatened by the 115 charges levelled by the Premier League, which are due to be heard later this year, and when potential punishments if found guilty might include sizeable fines, points penalties or even relegation, Al Mubarak believes that revenue will continue to increase and that they are pioneers of a multi-club model.

He said: “These results are very sustainable because we have now a very clear foundation that’s been built over many years. We have a financial and economic machine. As long as we keep managing well and being prudent, you know that growth in terms of revenue, in terms of profitability, I think we’re on a trajectory that’s been there for years now and continues to go from strength to strength.

“City Football Group is no longer a test of viability. It’s now a fully functional operating sports and entertainment machine that continues to grow from strength-to-strength and is sought after to be partnered from, from everywhere, east, west, north, south. We are premier. We are pioneers.”

The City Football Group includes 12 clubs. One of them, Girona, have qualified for the Champions League for the first time in their history after finishing third in La Liga and Al Mubarak savoured the success story.

He added: “I think Girona kind of personifies this group and how a club can be well managed to the point to substantially outperform. They have the 16th highest wage bill in La Liga. To get to the Champions League is incredible.”

However, Troyes have suffered back-to-back relegations and will now play in the French third division. Al Mubarak admitted CFG have made mistakes.

He added: “We will look back at Troyes and there’s many lessons learned in this. We have a lot to think about today. But what we do know is we’re going to fix it. We’re going to fix it. We know how to fix it. We know how to put the right resources behind it. We’ll come back.”

Former City and CFG personnel have been headhunted by other clubs with Berrada due to start at Old Trafford and Manchester United hiring Jason Wilcox as sporting director. With Enzo Maresca going to Chelsea and Ange Postecoglou at Tottenham and Mikel Arteta at Arsenal, three leading Premier League clubs will be managed by either Pep Guardiola’s former assistants or coaches who have managed elsewhere in the CFG.

And Al Mubarak said it made him: “Proud. It tells you we are very good at what we do at every level. When you see, and I use the word graduates, players at the academy level, players at the first-team level leave and go and have successful careers. Coaching staff, medical staff, physios, senior executives that are being sought after by the best teams in the world. That’s testament that we’re on the right track. It confirms a) that we’re doing it right, b) the people, c) that we have a system, that we have great leadership, that we have great management and a system that continues to produce talent at every level. Every aspect of the business of football, from coaching to playing to managing. When you look at people that get an offer for a great job at another club, of course you understand. It’s natural people will take other challenges.”

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