Wednesday 31 May 2017 12:28, UK
Manchester City chairman Khaldoon Al Mubarak insists financial sustainability is a top priority for the club despite the prospect of another summer of big-spending in the transfer market.
City spent £43m to sign Bernardo Silva from Monaco last week and the Portugal international is set to be joined by compatriot Ederson, who is edging closer to a £34.7m move from Benfica.
Pep Guardiola spent over £170m on players in his first season in charge at the Etihad and the former Barcelona boss is expected to at least match that figure this summer.
City's growing financial muscle was highlighted in the latest study of leading European clubs by professional services firm KPMG, who rated the Manchester club as the fifth most valuable club in the continent - ahead of the likes of Liverpool, Arsenal, Chelsea and Juventus.
Al Mubarak insists the club are not spending beyond their means and are planning for a successful, sustainable future.
"It's very important because this club has to have a sustainable development strategy and that's what we have built over the years and that's what we have today," he said.
"We've posted a profit of approximately £21m. We've hit record years in terms of revenue of about £392m. We are financially very strong.
"We continue to be profitable, we will continue to be profitable and to grow our top and bottom line and that is important.
"It is important because to maintain the legacy of this club, we have to maintain financial sustainability and stability.
"And that's been achieved and I would say today more than ever I know we have laid the right foundation and we are on a highway that's going in one direction and that's in the positive direction."
One common criticism aimed at Manchester City, and many other clubs in the Premier League in recent years, is the lack of first-team opportunities for homegrown academy players.
Al Mubarak claims the club is doing all it can to help academy players progress to the senior side and he believes Guardiola is the perfect manager to help nurture young talent.
"We are in a really good place in terms of the development of the academy and the quality of players," Al Mubarak said.
"We have three or four players that I think we can genuinely believe have a very good chance of making it to the first-team.
"Pep spends a lot of time watching our academy players compete and that's one of the great attributes that I have always loved in Pep.
"I've actually attended academy games with him this year. I've sat with him and seen how he knows every player by name and follows them at multiple age groups, that's great, because that's really what we're trying to build in terms of an ethos in this club."
