Manchester City smash £500million revenue barrier for the first time – and make healthy profit

Manchester City have broken the £500million revenue barrier for the first time in their history.

City have announced their financial results for last season in their annual report and the figures show they generated £500.5million income during 2017-18.

This bumper figure helped them post a profit of £10.4million – the fourth consecutive year the Blues have been in the black.

City have often come under fire for their big spending in the transfer market, but their results show their wage to revenue ratio is a healthy 52 per cent.

City were also successful on the pitch and broke over 25 records in winning the Premier League in addition to the Carabao Cup.

Chairman Khaldoon Al Mubarak was delighted by City’s performance on and off the pitch and the club have been totally transformed in the decade since Sheikh Mansour’s takeover.

Al Mubarak insists City will not sit back and says they are hungry to achieve even more.

“The 2017-18 season will go down in history because of the incredible football we all witnessed,” said the City chief.

“We are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them.

“Our aim is obviously to build on the achievements of the last year. We will always strive for more.

“Our journey is not complete and we have more targets to fulfil.

“There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the 10 seasons that came before.”