Connect with us

Sportsmoney

Man City become first British club to post £400m wage bill

Published

on

Manchester City have revealed the price of last season’s historic Treble after becoming the first club in British football history to spend more than £400 million ($498m) on annual wages.

The reigning Champions League, Premier League and FA Cup champions have reported record revenues on £712.8m — an increase of £99.8m ($124m) on the previous year — in the club’s Annual Report for the 2022-23 season. City’s profits increased to £80.4m from £41.7m the year prior.

City continue to contest 115 Premier League charges, covering a nine-year period from 2009, for breaching the league’s financial fair play regulations.

The club’s rocketing wage bill saw salary costs, including the annual £45m salary of striker Erling Haaland, jump £69m to an overall £422.9m last season, despite the club employing 56 fewer football staff than the previous year.

City added Haaland, Julián Álvarez and Kalvin Phillips to their squad in the 2022 summer transfer window and offloaded Raheem Sterling, Gabriel Jesus and Oleksandr Zinchenko. The club’s salary costs were also increased by the payment of player bonuses following success in winning the three competitions last season.

In contrast to City’s record high wage bill, neighbours Manchester United reported an annual wage bill of £331.4m last month — £91.8m lower than the salary costs at the Etihad Stadium.

And by reporting revenues of £712.8m, City have also eclipsed the previous British record of £648.4m posted by United in their annual figures last month.

“The 2022-23 season saw Manchester City scale new heights and set new benchmarks,” City chairman Khaldoon Al Mubarak, said in a statement.

“In short, last season saw Manchester City achieve the greatest football and commercial year of its storied history.”

City experienced growth over the previous year across all revenue streams of commercial, matchday and broadcasting.

Commercial revenues accounted for £341.4m, followed by broadcast at £299.4m and then matchday at £71.9m, for a profit of £80.4m, nearly doubling the previous year’s record profit of £41.7m.

Manchester City completed the treble for the first time last season. Getty
Matchday revenue saw an increase of £17.4m (32%) with a 99% occupancy rate at the Etihad and four more home games played across all competitions, although the average attendance of 53,249 fans over 19 Premier League games was just shy of their record of 54,130 set in 2018-19.

Broadcasting revenues climbed by £50.4m over the previous year (20.2%), primarily due to the club reaching and winning the Champions League and FA Cup finals.

Profits also benefited from significant player trading with £121.7m generated from transfers, up a significant 79.8% over the previous 12 months.

City earned top spot on the Brand Finance Football 50 list with a brand value of £1.51 billion, passing Real Madrid (£1.46bn). United were fourth at £1.36bn.

It marked the first time an English club had earned the No. 1 spot since 2018 with the report citing City’s decade of dominance on the pitch and the highest revenue of any of the clubs in the report as key reasons for their rise in the rankings.

City also topped the Deloitte Football Money League for the second consecutive year with the biggest revenues of any European football club, ahead of runners-up Madrid.

In early 2023, City were charged by the Premier League with more than 100 breaches of rules that required the club to provide “more financial information that gives a true and fair view of the club’s financial position,” the league said in a Feb. 6 statement.

Wednesday’s financial report addressed the charges, saying: “In February 2023, in response to the charges, the Club issued a public statement that it welcomes the review of this matter by an independent Commission, to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position.”

Author

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Sportsmoney

Jurgen Klopp’s Massive Net Worth, Million-Pound Spanish Mansion And Relationship With Wife

Published

on

Jurgen Klopp has made a surprising return to football just months after his tearful goodbye from Liverpool. The German concluded his nine-year tenure at Anfield at the close of last season, passing the baton to Arne Slot.

His exit was met with heartfelt tributes from Reds supporters worldwide, who expressed their gratitude for his remarkable accomplishments in Merseyside, notably triumphs in both the Premier League and the Champions League.

Despite declaring that he would be taking a well-deserved break after leaving Liverpool, it took only four months for the 57-year- old to embark on his first new venture post-Anfield.

Express Sport provides an in-depth exploration of Klopp’s latest position in football, as well as his life within and beyond the sport where he has left an unforgettable imprint.

The German was unveiled as Red Bull’s new ‘Global Head of Soccer’ on Wednesday, signalling his comeback to football following his departure from Liverpool last summer. Although this new role deviates from his typical managerial responsibilities, he will undoubtedly have quite the job on his hands when he begins his new role on January 1st, reports the Mirror.

Klopp will supervise Red Bull’s network of clubs including Salzburg, New York Red Bulls, RB Leipzig and Red Bull Bragantino. While he won’t be engaged in the daily operations of individual clubs, his role will involve providing support to sporting directors to utilise his extensive footballing network to assist in scouting the sport’s top talent. He will also contribute to the training and development of coaches.

Immense net worth
Klopp boasts an impressive financial standing. Celebrity Net Worth estimates his fortune at a staggering £41.8million ($50million), placing him among the elite of the world’s highest-earning football managers.

Reports from Sport published that Klopp’s annual earnings at Anfield hit the £18.5m mark. Beyond his substantial managerial salary, Klopp has secured several high-value endorsement deals with brands such as Opel, Erdinger, VR-Bank, Snickers, Deutsche Vermogensberatung, and previously Puma.

Currently, he represents Adidas as an ambassador, frequently showcasing their gear on his Instagram profile.

Author

Continue Reading

Sportsmoney

How FC Barcelona Turned €0m Into €240m

Published

on

Barcelona’s ability to develop talent through La Masia is paying off handsomely once again.

Over the past few years, three young talents—Pau Cubarsi, Lamine Yamal, and Gavi—have experienced remarkable surges in their market values, transforming the club’s investment of almost nothing into an astonishing €240 million.

These players have become some of the hottest young prospects in world football, showing just how vital La Masia is to Barcelona’s success on and off the field.

Pau Cubarsi – From €1.5m to €30m

Young defender Pau Cubarsi has seen his value skyrocket in recent months. Back in December 2023, Cubarsi was valued at just €1.5 million.

While this wasn’t insignificant for a young, unproven defender, his progression in the senior team and his outstanding performances have led to a massive jump in his value. As of today, Cubarsi is now worth an impressive €30 million.

The rapid rise in Cubarsi’s market worth is a testament to his solid defensive abilities and his adaptability. The 17-year-old has quickly cemented his place as a reliable option at the back for Barcelona.

His composure, vision, and defensive intelligence have caught the attention of scouts and managers alike, pushing his market value up at a phenomenal rate.

With his current trajectory, his worth is expected to rise even further as he becomes a regular for both club and country.

Lamine Yamal – Breaking records with €120m valuation

Arguably the most notable rise in value belongs to forward Lamine Yamal. His journey from promising academy talent to one of football’s hottest prospects has been nothing short of extraordinary.

By the time Yamal made his senior debut, he was valued at just €25 million, a decent figure for a teenager making his first steps into top-flight football. By December 2023, his value had doubled to €60 million, reflecting his growing influence in the team.

However, the real explosion in Yamal’s market value came soon after, with his current valuation sitting at a staggering €120 million. This makes him not only one of the most valuable young players in the world but also one of the most valuable players in general.

At only 17, Yamal is already being compared to some of the best forwards in the world, and his value will likely continue to rise as he continues to develop considering that Paris Saint-Germain are right on his tail.

Gavi – €90m despite injury woes

Young midfielder Gavi has also seen his market value grow despite having been sidelined for nearly a year due to injury.

When Gavi first burst onto the scene, like Yamal, he was valued at around €25 million. His breakthrough performances in midfield, showcasing a blend of aggression, technical ability, and leadership, quickly earned him a much higher valuation.

Today, Gavi is worth €90 million. This is particularly impressive considering his injury troubles, which have kept him off the pitch for an extended period.

Despite this, Gavi remains a highly valued asset for Barcelona, thanks to his previous displays and his potential to return even stronger.

His resilience, combined with his tactical understanding and energy in the middle of the park, makes him a vital part of Barcelona’s future.

 

Player valuations obtained from transfermarkt.com on the date of publication.

 

 

Author

Continue Reading

Sportsmoney

Messi’s famous Barcelona napkin auction opens in London

Published

on

Lionel Mess

The auction for the napkin which famously launched Lionel Messi’s Barcelona career as a 13-year-old opened this week with a guide price of £300,000-£500,000 ($374,700-$624,500).

Bidding for the item stands at £220,000 and will be open with the British auction house Bonhams until May 17.

The sale was originally slated for for March but was postponed due to a dispute over the ownership of the napkin, which has been in the hands of Horacio Gaggioli, an Argentine agent, for the last two decades.

Josep Minguella, another advisor involved in the deal to bring Messi over from Argentina, claimed possession of the napkin following the news it would be auctioned earlier this year.

Gaggioli disputed this, while Bonhams told ESPN there were “no problems” regarding the sale of the napkin, which is listed on their website as “property of Horacio Gaggioli.”

The auction for the napkin has opened after a dispute over it original ownership. Bonhams
Minguella has not replied to ESPN’s request for comment. With Messi’s father, Jorge, beginning to doubt Barça’s commitment to his son in 2000, the club’s director of football at the time, Carles Rexach, hastily scrambled together an agreement on a napkin.

It was signed by Rexach, Minguella, who had helped bring Messi over from South America, and Gaggioli, who helped broker the deal, serving as a promise for a first contract.

Since then, it has remained under the ownership of Gaggioli in a secure vault in Andorra, the Principality to the north of Barcelona sandwiched between Spain and France.

Negotiations for it to be incorporated into Barça’s museum at the club’s Spotify Camp Nou stadium broke down in the past.

The napkin was originally signed on Dec. 14, 2000 at a tennis club in Barcelona after Rexach had received a frantic call from Jorge Messi threatening to take his son back to Argentina.

“That was when, thinking on my feet, I decided everything,” Rexach told ESPN in 2020 to mark the 20th anniversary of the signing.

“Why a napkin? Because it was the only thing I had available to hand. I saw the only way to relax Jorge was signing something, giving him some proof, so I asked for a napkin from the waiter.

“I wrote: ‘In Barcelona, on 14 December 2000 and in the presence of Messrs Minguella and Horacio, Carles Rexach, FC Barcelona’s sporting director, hereby agrees, under his responsibility and regardless of any dissenting opinions, to sign the player Lionel Messi, provided that we keep to the amounts agreed upon.’

“I told Jorge that my signature was there and that there were witnesses, that with my name I would take direct responsibility, there was nothing else to talk about and to be patient for a few days because Leo could already consider himself a Barca player.”

Messi, who now plays for MLS side Inter Miami, went on to become Barça’s greatest ever player, making more appearances (778) and scoring more goals (672) than anyone else who has played for the club.

During over 20 years in Barcelona, he won 10 LaLiga titles, seven Copas del Rey and four Champions League trophies while playing for the club before joining Paris Saint-Germain and later Inter Miami.

Individually, he has won the Ballon d’Or a record eight times and has also been named The Best FIFA Men’s Player on three occasions.

International success with Argentina had eluded him until recently, but he finally won the Copa América in 2021 and the World Cup in 2022 to go with the Olympic Gold Medal he won in 2008.

 

Author

Continue Reading

Trending