(Reuters) – Manchester City owner Sheikh Mansour bin Zayed al-Nahyan has outlined his long-term plans for the club, promising another decade of success at the Etihad Stadium.
City’s annual report this week showed Sheikh Mansour has spent more than 1.3 billion pounds on the club since he took over in 2008.
In a letter to the club’s registered supporters to mark his 10 years in charge, the Abu Dhabi royal said City were “only halfway up our Everest” and that he remained as ambitious as ever.
“I want to take this opportunity to say that I am incredibly proud of the fact that the fundamental character of this club and its supporters has not changed in the last decade,” Sheikh Mansour said.
“So what do the next 10 years hold? I know you all remain ambitious and so do I. It feels that we are only halfway up our Everest.
“There is much more to do and there is much more to win. That is why you will continue to see us strive to recruit the very best talent into this club and its sister organisations in all functions and at all levels.”
City’s Premier League title triumph last season, with an unprecedented century of points, was the seventh major trophy won by the club under Sheikh Mansour’s ownership.
In their annual financial report, City announced they had revenues of 500.5 million pounds — a 44 percent increase over five years — last season.
The club enjoyed a fourth successive profitable year, this time with 10.4 million pounds and a wage-to-revenue ratio of “a healthy” 52 percent.
“The last 10 years has seen us become economically scaled and sustainable as we had planned and that economic success is crucially important because it underpins everything else we do on the pitch and in our communities,” Sheikh Mansour added.
Pep Guardiola’s City have won three matches and drawn one in their opening four league games this season. They were hosting newcomers Fulham later on Saturday.
(Reporting by Hardik Vyas in Bengaluru; Editing by Clare Fallon)