Man City make multi-club stance clear despite UEFA threat as Man United, Liverpool and Villa look on

Khaldoon Al Mubarak branded Manchester City an "economic machine" after seeing the club post record revenues, while insisting the financial results showed the City Football Group continued to be focused on growth.

City posted revenues of £712million when they revealed their latest financial figures last November, an increase of almost £100million on the previous 12 months, while profits came in at £80million.

That is a success story for the largest club in the CFG network but Al Mubarak, the City chairman and chairman of CFG, said those financial results were sustainable across the board as he hinted at more teams being bought up into the CFG fold.

“I'm very pleased with the results. These results are very sustainable because we have now a very clear foundation that's been built over many years," he said in an interview with club media.

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"We have a financial and economic machine. As long as we keep managing well and being prudent, you know that growth in terms of revenue, in terms of profitability, I think we're on a trajectory that's been there for years now and continues to go from strength to strength.

"Since day one, Sheikh Mansour as the largest shareholder of the group, has been very focused on growth and value appreciation. And in doing so, every pound of profit has stayed within the group to support growth and development.

"The result of it is we always are investing. We're always investing in infrastructure, in the development of these clubs. We're buying new teams. We continue to grow and grow."

The multi-club ownership model continues to be in the spotlight and UEFA president Aleksander Ceferin has previously said the issue needed greater thought. But City and sister club Girona have both been cleared to play in the Champions League this season and Al Mubarak praised Girona as an example of the success stories that CFG can generate.

“When you talk about a system and how the system works, I think Girona kind of personifies this group and how a club can be well managed to the point to substantially outperform," he said.

"They have the 16th highest wage bill in La Liga, 16th out of 20, and they went head-to-head with Real Madrid and Barcelona until the end. They finished third and they made it to the Champions League for the first time in their history after coming from the Second Division just a couple of years ago.

"It is extraordinary, in footballing terms, to achieve what they have achieved, given what I've just described in La Liga with Real Madrid, Barcelona, Atletico Madrid and the other big clubs in Spain. Having the 16th highest wage bill with 15 teams ahead of them and then together to the Champions League is incredible.

"In Girona, you've seen it to perfection with Michel as the coach, Quique as the football director, a great management team, a great board and then the players. Really everybody there outperformed. Every single person in that group, you don't get to that result without outperforming as a group. It's something I think that is remarkable for Girona, the city, the people of Girona and the fan base of that club."

On the success of CFG more widely, Al Mubarak added: “The model works. We have a great system, a great management team and we have great clubs as part of the group. And I think from our perspective, City Football Group is no longer a test of viability.

"It's now a fully functional operating sports and entertainment machine that continues to grow from strength-to-strength and is sought after to be partnered from, from everywhere, east, west, north, south. This is where we are today. We are premier. We are pioneers in what we've achieved. I'm delighted for the group and our shareholders.”

It hasn't been a faultless year for CFG, however, with the most high-profile disappointment coming at French club Troyes, who were relegated to the third tier amid fan protests at the ownership.

“When you have a big group like ours, to be able to be successful in every single one of the teams, every season, is virtually impossible. You're going to have challenges, here and there every year," he said.

"It's not about the challenge, it's about how you respond to the challenge. Of course, we will look back at Troyes and there's many lessons learned in this. We have a lot to think about today. But what we do know is we're going to fix it. We're going to fix it. We know how to fix it. We know how to put the right resources behind it. We'll come back. And I have no doubt about that.

"Lommel, and the same at Palermo. Both ended the seasons close to being promoted but weren't able to cross that line. Disappointed for sure for the clubs and their fans. But we know what to do.

"I think what I say to those fans is we know what to do. You've seen us do it all over the world. We will figure it out. We will focus because we don't like to lose and we don't like to fail.”"

City are not the only team operating a multi-ownership model with Sir Jim Ratcliffe's Ineos company owning a 27.7% stake in Manchester United having completed a takeover of French club Nice in 2019. Liverpool owners FSG are also pursuing a multi-club model while Aston Villa owners V Sports own a 29% stake in Portuguese side Vitória S.C