Manchester City announces record revenues of $655M

Manchester City players lift the English Premier League trophy. (Rui Vieira/AP)

MANCHESTER, England — Manchester City generated a club-record 500.5 million pounds ($655 million) as it won the Premier League by amassing an unprecedented 100 points.

The annual report for the 2017-18 financial year was released Thursday showing the Abu Dhabi-owned club made a profit of 10.4 million pounds.

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City’s revenue has increased 44 per cent in five years, fueled by the rise in value of television rights, progress in the Champions League and more lucrative sponsorship deals.

Commercial deals are the biggest source of revenue, generating 232.3 million pounds in the year to June 30.

Four of City’s nine global sponsors are Abu Dhabi companies. Sheikh Mansour, a member of Abu Dhabi’s royal family and deputy prime minister of the United Arab Emirates, bought City 10 years ago.

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