Manchester City’s commercial income has continued to rise, but the figures also frame the period at the heart of the club’s financial case: a decade in which its accounts were found to have been overstated through sponsorship arrangements linked to the United Arab Emirates.
Key takeaways
- City’s commercial revenue moved from £232 million in 2018 to £340 million in 2025, an increase of 46 per cent.
- Liverpool’s equivalent income rose by 110 per cent over the same spell, while Arsenal recorded growth of 146 per cent.
- Since the Abu Dhabi takeover in 2008, City’s commercial returns have climbed from £25 million to £340 million.
- The club has been found guilty of more than 100 financial breaches connected to the presentation of its accounts.
- The findings cover the 2009-18 period and put the distortion of City’s finances at more than €1 billion.
A commercial rise under scrutiny
City’s commercial operation stood still in 2018, the year the Premier League investigation began, before growing from £232 million to £340 million by 2025, the latest set of available accounts. That 46 per cent rise is substantial in ordinary terms, though it trails the progress made by two principal rivals.
Liverpool increased commercial income from £154 million to £323 million, a rise of 110 per cent. Arsenal went from £107 million to £263 million, representing growth of 146 per cent.
The longer view is more dramatic at the Etihad. When Abu Dhabi acquired the club in 2008, City brought in £25 million commercially. By 2025, that total had reached £340 million. The value of its current commercial agreements is 13.5 times greater than those in place at the time of the takeover.
Sponsorships and the decade in question
The Premier League case found City guilty of inflating their accounts through sponsorship deals involving companies operating under the same UAE umbrella as the club’s ownership. LaLiga had raised concerns as early as 2017, arguing that City’s commercial income sat well beyond normal levels and pointing towards the club’s links with the Emirates.
The investigation and independent commission concluded that City overstated budgets for almost ten years, spanning 2009 to 2018. The effect on the accounts was assessed at more than €1 billion.
It was also a period of considerable success on the pitch. City collected eight trophies during those years, including three Premier League titles, as the club’s rise from Abu Dhabi’s 2008 purchase became one of English football’s defining stories — with the balance sheet now as central to the discussion as the silverware.
