Man City announce record-breaking £712m in revenue for 2022-23 along with largest wage bill in English football history on back of treble-winning season

The club celebrated their most successful campaign ever last summer, with a maiden Champions League win in June completing an historic treble under Pep Guardiola. City revealed on Wednesday that this glory was matched with success off the pitch. The aforementioned revenue figures represent a £99.8m ($124m) increase from last year and usurps the previous record of £648m ($808m) posted by Manchester United last month.

But the English records didn't stop at the club's revenues. The 2022-23 season also saw a Premier League - and therefore club - high profit of £80.4m ($100m), which is up from last year's amount of £41.7m ($52m). Furthermore, City's wage bill has dramatically increased, thanks in part to the arrival of star striker Erling Haaland, soaring to a staggering £423m ($527m) from £70m ($87.3m). This is the largest amount in English football history.

Club chairman Khaldoon al-Mubarak said in a statement: "In the aftermath of the Champions League win in Turkey and the completion of 'The Treble' the question I was asked most often, was 'How do you top that?'. The answer is by doubling down on the proven philosophies and practices that have brought us this success and to challenge ourselves to continue to constantly innovate in order to achieve new levels of performance, on and off the field.

"We will continue to question all the industry norms, evaluate our successes and learn from any failures. Success today simply means further investment for tomorrow. Our financial health and on-field success mean everyone connected to Manchester City can look forward to the future with excitement. Our collective achievements give me huge confidence that together we can accomplish even more in the years to come."

Of course, the club are still being investigated over multiple breaches of the Premier League's Financial Fair Play rules. This aspect is alluded to in the latest report, which refers to "a number of risks and uncertainties which could have a material impact on the club's performance". City deny any wrongdoing, despite the 115 charges issued against them back in February.