There are people that enjoy reading balance sheets and income statements. We are not those people. However, we did manage to download account filings from Companies House and have started to examine some of the information contained therein.
Below you can see a plot of total profit/loss for Liverpool and Manchester City. This covers 2006/2007 season to 2017/2018. Some eye-opening numbers involved here.
Manchester City operated at a significant loss around the time of acquisition by Abu Dhabi United. It has taken some time to emerge from annual losses. From 2010 onwards, Manchester City shows a clear trend toward profitability.
Liverpool demonstrates a similar overall trend moving towards annual profits rather than losses.
The profit and loss numbers presented here include consideration of player sales and taxes. These are total profit/loss rather than operating profit/loss.