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Manchester City have announced the biggest annual income ever recorded by an English club by bringing in £712.8m in their treble-winning season. The club made a profit of £80.4m for the 2022-23 financial year, nearly double the previous year’s total of £41.7m, as they topped the previous highest income by a Premier League club – the £648m recently declared by neighbours Manchester United. However, they would still have made a loss without a £121m profit on player sales, including Raheem Sterling, Gabriel Jesus and Oleksandr Zinchenko. Their costs included a wage bill of £368m although it was increased by bonuses for winning three competitions. City reported a rise in each of their commercial, broadcast and matchday revenue for a year when Pep Guardiola’s side secured the Premier League, the FA Cup and the club’s maiden Champions League. City’s broadcast revenue went up by more than £50m to £299.4m, principally due to income from Uefa for their successful Champions League campaign. Their commercial revenue was up by more than 10 percent to £341.4m while matchday income went up by £17.4m to £71.9m. But City also referenced the 115 charges the Premier League levelled for allegedly breaching financial regulations. Potential punishments if found guilty include points deductions or even relegation but City maintain there is “irrefutable” proof of their innocence. The club said: “On 6 February 2023, in accordance with Premier League Rule W.82.1, the Premier League referred a number of alleged breaches of the Premier League Rules by Manchester City Football Club to a Commission under Premier League Rule W.3.4. “In February 2023, in response to the charges, the club issued a public statement that it 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 position.” Chairman Khaldoon Al Mubarak, concentrating on the on-field results and the financial report, said: “In short, last season saw Manchester City achieve the greatest football and commercial year of its storied history.” CEO Ferran Soriano added: “Winning the treble – the Champions League (for the first time), the Premier League (the third title in a row) and the FA Cup. Achieving record revenues and record profits. Winning the Ballon d’Or for best men’s club of the year and being named the most valuable football club brand in the world. We can certainly say that the 2022-23 season was the best in the history of Manchester City.” City noted that, after the end of the 2022-23 financial year, they made a number of transfers which will add a net expenditure of £84m. That involved buying Josko Gvardiol, Mateo Kovacic, Matheus Nunes and Jeremy Doku while selling Riyad Mahrez, Aymeric Laporte, James Trafford, Shea Charles and Cole Palmer. Read More England new-boy Cole Palmer: My decision to go to Chelsea is paying off Anything is possible – Eric Dier on Tottenham’s Premier League title challenge Virgil van Dijk backs Liverpool to challenge Manchester City for Premier League title

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By Michael S. Derby NEW YORK The Federal Reserve’s in-house watchdog defended his agency's independence and ability to

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By Gaurav Dogra and Patturaja Murugaboopathy Prospects for robust earnings growth for Asian companies in 2024 look bleak

Dominic Solanke’s late equaliser denied West Ham an opening-day win as Bournemouth hit back for a 1-1 draw. Jarrod Bowen had fired the Hammers into the lead early in the second half with a spectacular curler from the edge of the box. But Bournemouth, playing under new boss Andoni Iraola for the first time, were good value for the point they earned when Solanke rounded Alphonse Areola with eight minutes remaining. It has been a troubled summer for West Ham following their Europa Conference League success last season with the departure of Declan Rice, Manchester City’s attempt to lure Lucas Paqueta away and a lack of new signings coming through the doors at the London Stadium. They arrived on the south coast with essentially last season’s team, minus Rice, and not much in the way of optimism. Yet they almost went ahead early on when Said Benrahma fed Tomas Soucek, whose effort bounced back off the inside of the far post and into the grateful arms of Bournemouth keeper Neto. The Cherries were relieved again when Michail Antonio’s flick from a corner was cleared from underneath the crossbar by Philip Billing. But Bournemouth had their chances too as the first half wore on, with Solanke slipping in David Brooks who fired just wide. Solanke then chased a long ball over the top only to be denied by the long leg of Hammers defender Kurt Zouma, before Areola beat away another Brooks drive. The second half almost began with a bang for Bournemouth with Brooks letting fly on the volley from 20 yards, forcing Areola into an acrobatic save. But it was the Hammers who broke the deadlock moments later after Pablo Fornals, trying to fill a Rice-shaped hole in the West Ham midfield, won possession 30 yards out. Bowen’s last kick of the previous campaign was the late goal which secured the Europa Conference League trophy against Fiorentina 66 days ago. This time he collected the ball off Soucek 20 yards out, cut onto his left foot and buried a superb, curling effort beyond the dive of Neto. Bournemouth, playing their new brand of easy-on-the-eye, expansive football, tried to hit back and Areola saved from Solanke before Joe Rothwell’s shot clipped the crossbar. Their dominance told in the 82nd minute when Antoine Semenyo’s wayward shot fell at the feet of Solanke, who showed tremendous composure to slip round Areola and tap into an empty net. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Odsonne Edouard hands dominant Crystal Palace win over Sheffield United Mikel Arteta says Eddie Nketiah forced his way into Arsenal team in training Today at the World Cup: England through and Australia prevail on penalties