Manchester City have developed a highly profitable strategy of selling academy graduates and young prospects for significant fees, consistently generating substantial revenue from player sales. Over the years, the club has honed its ability to maximize returns on talents who have yet to establish themselves in the first team, turning their youth development into a lucrative business model.
In 2023 alone, City secured over £10 million each for Shea Charles, James Trafford, and Carlos Forbs. The club further cashed in on Taylor Harwood-Bellis and Liam Delap last summer, pocketing a combined £35 million from their departures. These are just a handful of recent examples of City’s profitable dealings, with the club accumulating more than £100 million from selling academy products in the last two transfer windows. Notably, this staggering sum does not even include the £42 million that Chelsea paid to acquire Cole Palmer, who has since become a key figure at Stamford Bridge.
The trend is set to continue this summer, with City already striking deals for two players who never made a senior appearance for the club. Right-back Yan Couto has triggered his €30 million transfer to Borussia Dortmund, with the Brazilian defender set to make his move to the Bundesliga permanent at the end of the season. Meanwhile, Nottingham Forest will pay £4 million to finalize the signing of young defender Joel Ndala, following his initial loan move in January. Despite not featuring for Forest’s first team, Ndala has been part of their Premier League 2 squad, making four appearances. The obligation to buy means he will officially become a Forest player in the summer.
These types of sales are particularly valuable under the Premier League’s Profit and Sustainability Rules (PSR), as academy-developed players count as pure profit in financial calculations. This approach allows clubs to generate revenue while remaining compliant with financial regulations, making the sale of youth players a crucial component of City’s business model.
And the exodus of young talent from the Etihad is unlikely to stop there. Norwich City hold a £5 million option to purchase Jacob Wright, while several other City prospects—including Callum Doyle, Josh Wilson-Esbrand, Kayky, and Issa Kaboré—could be offloaded in the summer transfer window. Each of these players has developed within City’s system but faces an uphill battle to break into Pep Guardiola’s first team, making them prime candidates for permanent transfers elsewhere.
Beyond the youth ranks, City also have senior players who could be on the move. Kyle Walker has a €5 million purchase option with AC Milan, and all signs point to the experienced full-back making the switch to Serie A. Meanwhile, Kalvin Phillips, currently on loan at Ipswich Town, has been linked with a potential return to Leeds United. However, reports suggest that such a move is unlikely. While City would hope to recoup at least £10 million for Phillips, his recent struggles make finding a buyer at that price a challenge. Nevertheless, any sale would further bolster the club’s financial position as Guardiola looks to reshape his squad.
Despite spending over £120 million in the January transfer window, City appear well-positioned to recover a significant portion of that expenditure through player sales this summer. Their ability to extract maximum value from academy graduates and fringe players ensures they remain financially strong while continuing to reinforce their squad with new signings. With more outgoings expected in the coming months, Manchester City’s well-oiled transfer strategy looks set to deliver yet another substantial windfall.
