Pep Guardiola’s men completed an unprecedented quadruple of England’s domestic trophies by winning the Premier League, FA Cup, League Cup and Community Shield.The sale of a host of players unable to break into the first team helped boost profits to Sh1.3 billion (£10.1 million).Prior to Sheikh Mansour’s takeover of City in 2008, the club’s revenue was a mere Sh 11.4 billion (£87 million).Huge losses of over Sh76 billion (£584 million) followed during the first six years of their ownership due to massive investment in the playing squad and facilities, including the Sh 26 billion (£200 million) Etihad Campus training ground.However, a boom in commercial and broadcast revenue brought about by continued qualification for the Champions League and four Premier League titles in the past eight seasons has seen City post a profit in each of the past five years.“As intended by His Highness Sheikh Mansour, our organisation is now at a level of maturity that enables us to plan on multi-year cycles both in terms of our management of squads and more widely across the business,” City chairman Khaldoon Al Mubarak said in a statement.“This strategic planning has allowed us to create an environment in which continued on-pitch success is both possible and likely, and financial sustainability is a reality.”City’s income is still dwarfed by local rivals Manchester United’s Sh82 billion (£627 million) revenue for the 2018/19 season.However, the gap between the two will be significantly closer this season with United expecting their income to fall to between Sh73 billion – Sh76 billion (£560-580 million) due to a lack of Champions League football.City’s figures for this season will also be bolstered by a club record kit deal with Puma worth a reported Sh8.5 billion (£65 million) a season over the next 10 years.However, the club are still under scrutiny due to an investigation from UEFA into alleged breaches of financial fair play (FFP).The investigation into City is based on leaked emails published last year by German magazine Der Spiegel that City flouted FFP regulations by inflating the value of sponsorship deals.Possible punishments include a ban from the Champions League, a transfer ban or a fine.0Shares0000(Visited 24 times, 1 visits today) 0Shares0000Manchester City posted record revenues of £535 million after winning a domestic quadruple of trophies last season © AFP / Glyn KIRKLONDON, United Kingdom, Nov 19 – Manchester City’s on-field success saw the club’s revenues swell to Sh70 billion (£535 million) last season as the Premier League champions posted a profit for the fifth straight year.A 20 percent surge in broadcast revenue saw City’s income rise from Sh65 billion (£500.5 million) in the 2017/18 season.
A bill that would make Oregonians shopping in Southwest Washington pay some retail sales tax is being considered by Washington lawmakers in an attempt to raise about $18 million in state revenue.If the proposal passes, out-of-state shoppers would pay the retail sales tax — 8.2 percent in Vancouver, for example. Later they could apply for a refund of the state’s portion of the tax, which is 6.5 percent. They would still have to pay the local sales tax, which in Vancouver totals 1.7 percent.To get a refund, shoppers would apply online through a process that proves their out-of-state residency. They would only apply once a year for their refunds and the refunds would have to total at least $25.The legislation, Senate Bill 6061, was proposed by Sen. Cheryl Pflug, R-Maple Valley. She said it is expected to raise state revenue by creating a minor inconvenience for shoppers and also by cutting down on tax fraud that sometimes occurs at stores. Now shoppers need only to show Oregon ID to receive a tax exemption.Pflug said her bill is similar to the rules in British Columbia, Canada. She said she hopes her legislation can help with the state’s $1.5 billion budget shortfall.