Soccer-Manchester City report record profits to match best season on pitch

FILE PHOTO: Soccer Football - Premier League - Manchester City v Chelsea - Etihad Stadium, Manchester, Britain - May 21, 2023 Manchester City's Ilkay Gundogan lifts the trophy as he celebrates with team mates after winning the Premier League Action Images via Reuters/Lee Smith /File Photo

MANCHESTER, England (Reuters) - After capturing their first treble last season, Manchester City reported on Wednesday that the success was matched off the pitch with record profits, their highest ever revenue, and recognition as the most valuable soccer brand in the world.

The club, which has been majority owned by Sheikh Mansour since August of 2008, earned revenues of 712.8 million pounds ($889.4 million) to June 2023 according to Manchester City FC Ltd.'s annual report, an increase of 99.8 million (16.3%) over the previous season, along with a record net profit of 80.4 million pounds.