Manchester City have become only the second English club in history to surpass £500 million in annual revenues.
The Premier League champions published their accounts for 2017/18 on Thursady which show turnover has hit £500.50 million, a 44 per cent rise in five years and a near six fold increase in the 10 seasons since Arab billionaire Sheikh Mansour bought the club.
It leaves City - who became the first English club to amass 100 points in a single season under Pep Guardiola last term - trailing only Manchester United (£581 million) in revenue terms among the Premier League elite.
City are also only the fifth club in Europe to reach £500 million in annual revenues after United - who release their 2017/18 results on Tuesday week - Real Madrid, Barcelona and Bayern Munich.
The Manchester club also posted a profit of £10.4 million, the fourth season running the club have returned a profit after heavy losses early in the Sheikh’s ownership.
City’s wage bill increased from £243.8 million for 2016/17 to £260 million - the second highest in the top flight behind United - but the wage to turnover ratio dropped from 56 per cent to 52 per cent.
Arsenal - who are due to publish their 2017/18 accounts in the weeks ahead - had a turnover of £427 million for 2016/17. Chelsea were fourth with revenues of £368 million and Liverpool fifth with a turnover of £364 million. Tottenham’s revenues for 2016/17 were £306 million.
“Our aim is obviously to build on the achievements of the last year. We will always strive for more.