A lot is not going well for traditional Premier League power Manchester City, but the club’s finances are still in unprecedented territory.

The four-time defending Premier League champions reported Friday club-record annual revenue of $901.7 million for the fiscal year that ended June 30, up by 0.3% from the prior year. Net profits fell about 8% to $93 million but still extended what is now a decade of consistent annual profit with the exception of the 2019–2020 season impacted by the COVID-19 pandemic. 

The robust totals arrive despite a run of tougher news for the club, including just one win in the last 10 matches that has left the team in fourth place so far this season, growing fan unrest over ticket prices, and a still-active dispute with the Premier League over alleged breaches of financial fair play rules. The latest run of seven losses, two draws, and a single victory since late October is the worst stretch under manager Pep Guardiola since he started with Manchester City in 2016.

“Our constant ambition to target and achieve the unprecedented is a mark of the organization that we have become,” said club chair Khaldoon Al Mubarak. “On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning and a shared belief in the collaborative learning culture we have built. This organizational approach is now part of our DNA.”

Bigger Picture

These types of financial reports are a trailing indicator on a club’s health, but in the case of Manchester City, still show its relative strength across global soccer. The club reported increases in its match-day and commercial activities, and in particular, a record profit of $175.3 million on player sales in the transfer market, up 15% from the previous year. Broadcasting revenue fell 1.6% to $371.7 million, due primarily to the club bowing out in the quarterfinals of this year’s UEFA Champions League following a title in 2023. 

Additionally, Manchester City says it had more than 10 billion video views across its various social media channels during the year, most in the Premier League.  

The Premier League financial dispute, meanwhile, still presents potential future issues, and the club cited the case in the “Risks and Uncertainties” section of its annual report. A trial that began in September with 115 charges of alleged breaches between 2009 and 2018 has now concluded, and a decision is expected in the spring, with appeals beyond that likely. Potential penalties range widely from fines and standings points deductions to relegation from the Premier League.

“[The club] welcomes the review of this matter by an independent commission to impartially consider the comprehensive body of irrefutable evidence that exists in support of its decision,” the report read in part.

Amid all the criticism of the Emirates NBA Cup, one thing seems certain: Players want to win the prize money.

LeBron James, who was the MVP of last year’s in-season tournament, admitted during group play that his team was gunning for the $500,000 prize each player on the championship team received—even though he has the highest career earnings of any NBA player in history at nearly $500 million.

NBA legend and four-time champion Horace Grant, who earned about $68 million throughout his 17-year career from 1987 to 2003, told Front Office Sports that even if the prize were significantly smaller, he would have gone all out for the money.

“If it was $25,000, we’re going for that. We’re going to try to take somebody’s head off,” Grant said.

This year’s prize money has slightly increased from the inaugural tournament. 

2024 NBA Cup Prize Money

Champions: $514,970 per player (2023: $500,000)

Runners-up: $205,988 per player (2023: $200,000)

Losing semifinalists: $102,994 per player (2023: $100,000)

Losing quarterfinalists: $51,497 per player (2023: $50,000)

The increases are due to a stipulation written in the NBA’s collective bargaining agreement. The prize money increases in conjunction with a growth factor calculated based on the league’s basketball-related income. With the NBA’s new media-rights deal—which pays the league nearly three times as much annually as its current deal—set to kick in next season, expect the prize money to shoot up in the coming years.

Biggest Beneficiaries

The top prize is a lot of money for anyone—even tournament-contending players making max money like Giannis Antetokounmpo, who is signed to a five-year, $228 million contract.

“The rich get richer,” Antetokounmpo joked after defeating the Magic to advance to the semifinals in Las Vegas.

Those who will benefit the most are minimum-salary players on standard contracts, and from the four teams left (Thunder, Rockets, Hawks, and Bucks), one player in particular stands to benefit the most.

Branden Carlson of the Thunder signed a standard, one-year deal with the Thunder in November. Because he signed in the middle of the season, he received a prorated rookie-scale minimum deal worth $990,895—less than the $1.16 million full-year minimum.

If the Thunder, the tournament favorites, go on to win the tournament, Carlson would see about a 52% increase in his yearly salary from the prize money. 

Players signed to two-way contracts—deals that allow them to shuffle back and forth between the NBA and G League—can also win prize money, but the CBA did include a caveat for those players. Their prize would be a fraction of the original number and will also depend on the number of NBA Cup knockout-round games on the team’s active roster. A two-way player on the championship team who was on the team’s active roster for all games of the knockout rounds would receive half of the grand prize.