Manchester City posted record revenues for the 2020-21 season, as they returned to profitability despite playing most of the campaign without fans in the stadium due to the Covid-19 pandemic.

The club recorded total revenue of £569.8m for the year ending 30 June, the club said in an annual report published on Wednesday.

The figure beat the previous record of £535.2m recorded in 2018-19, the last complete season before the pandemic struck.

It is the third time in five seasons they have broken the £500m barrier, while they reported a profit of £2.4m million pounds.

City won the league title and the Carabao Cup in 2020-21 while they also reached the Champions League final and the FA Cup semi-finals.

The club's matchday income was down 98% compared to the previous year but this was offset by revenue from other streams, driven by broadcast revenue which increased by 56% on the year before to £297m
Commercial income was up 10% to £271.7m thanks to new partners such as Cadbury and AxiTrader.

"From a business perspective, we were pleased to return to profitability, having successfully navigated the revenue challenges created by the pandemic," chief executive Ferran Soriano said.

"Covid-19 did not stop us, and we continued to grow, innovate and develop new ideas... We are hopeful that the pandemic-related challenges from the last two seasons will continue to subside."

City reported a net loss of £126m for the 2019-20 season after posting record profits of over £10m in the previous year.