The English Premier League Club published record revenues Wednesday with a total gain of $620 million (£473.4 million), representing 21 per cent increase on previous year.
The club owned by Abu Dhabi-based Emirati Sheikh Mansour has recorded steady progress of its annual revenues for three straight years.
City remains debt-free since its acquisition in 2008 and the club’s objective, according chairman Khaldoon Al Mubarak, is to quickly reach the £500 million-target.
The Citizens spent £180million in the summer of 2016 to beef up the team.
“This report is about making sure our fans and our partners can see the true detailed status of every aspect of the club,” Mubarak added.
“What hopefully comes across is that the football organization and off-field business have the right symmetry and balance to allow us to continue to further strengthen and grow.”
Currently first in the standings with a total of 31 points after 11 matches, the club, led by Spanish technician Pep Guardiola, is eight clear points ahead of its rival Manchester United racing right behind.
The last victory was over London-based side Arsenal 3-1 on Sunday.
Guardiola, in his second year at the head of the side has been able to instill his attacking play style in the players who are also putting splendid performance in the European Champions League, with already a place among last 16.
Under Mansour, City has won two Premier League titles, two League Cups and one FA Cup trophy.
The youth side have notched nine trophies. Women have also established their dominion on the female league winning a treble of domestic trophies.