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.