Manchester City have released their financial report for the 2021-22 season, posting record profits of £41.7m and record revenues of £613m.
Prior to the start of the 2021-22 season, Man City allowed Lukas Nmecha, Jack Harrison, Angelino and Ferran Torres to leave the club permanently for transfer fees while also slashing their wage bill by waving goodbye to Sergio Aguero and Eric Garcia.
The Premier League champions spent in excess of £100m to bring Jack Grealish and Julian Alvarez to the club before also capturing Erling Braut Haaland, Manuel Akanji, Kalvin Phillips and Sergio Gomez this summer.
However, City have also offloaded Raheem Sterling, Gabriel Jesus, Oleksandr Zinchenko, Pedro Porro, Ko Itakura and Arijanet Muric for significant fees and have posted a £67.7m profit from player trading in 2021-22 before this summer's business.
City's total profits of £41.7m are more than double their previous record in that area, and Chairman Khaldoon Al Mubarak has taken "immense pride" in the latest financial results.
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"As we reflect on the 2021/22 season, I do so with immense pride in the work and commitment of all of our City family, that has allowed us to emerge from the pandemic with strong finances and further on-pitch successes," Al Mubarak told the official Man City website.
"We should feel uplifted by the collective achievements of so many and look to the future with anticipation, knowing our Club is committed to accomplish so much more.
"In 2008 we gave ourselves the target of exceeding the benchmarks that had been set by others within football; and in doing so, to also exceed the new standards that we believed leading clubs would achieve in the time it would take us to catch-up.
"Our aim was clear – to one day be the Club that set the benchmark for others. The statistics and results show that in many ways we are beginning to achieve our long-term ambition."
After two seasons of COVID-19 disruption with empty stadiums and postponed matches, the Etihad welcomed fans back en masse for 2021-22 as Pep Guardiola's side won their fourth Premier League title in five years.
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City also made it through to the semi-finals of the Champions League, but they came up short in both cup competitions, as well as their two Community Shield clashes with Leicester City and Liverpool.
Chief Executive Officer Ferran Soriano added: "Our strong revenue performance was due to multiple factors, but ultimately driven by the beautiful football we play and the continuous fan growth that it generates; more fans, more audiences, more people in the stadium, and more partners that want to be commercially associated with Manchester City.
"Ultimately, the 2021-22 season was representative of the football standards that we have set ourselves as we continued to deliver on our ownership's vision and plans."
Furthermore, Man City have also been named the second-most valuable football club in the world by Brand Finance at €1.3bn (£1.1bn), with only Real Madrid (£1.3bn) worth more.
The Citizens' revenues of £613m is also the second-highest ever in the Premier League after Manchester United reported a £627m figure in 2019.
