Manchester City have broken an unthinkable record, becoming the first club in British football history to tally a wage bill worth over £400m (AUD $736m).
During last year’s historic Treble victory, City spent a reported £422.9m (AUD $806m) on club salaries, boosted by the inclusion of striker Erling Haaland who earns £45m (AUD $85m) per-season.
According to ESPN, the reigning Premier League champions also have 56 fewer staff on their wage bill, but still reported the highest ever revenue figures in British football history.
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Manchester City reportedly pulled in £712.8m (AUD $1.358 billion) in revenue, with their profit also increasing from £41.7m (AUD $79.6m) to £80.4m (AUD $153m).
The club are also continuing to battle 115 charges laid down by the Premier League regarding potential breaches of financial fair play regulations.
“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.”
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City were also handed the title of holding the highest value brand on Brand Finance Football’s top 50 list, sitting at a tidy £1.51 billion (AUD $2.88 billion).
The English club surpassed Real Madrid, while their cross-town rivals in Manchester United sat in fourth place.
It is the first time a Premier League club has won the title since 2018, whilst City also topped the Deloitte Football Money League for the second consecutive year.