Manchester City chairman Khaldoon Al Mubarak says the club’s journey “is not complete” despite reporting revenues in excess of £500m last season.
City’s annual report, to 30 June 2018, confirms they are the second English club to break the £500m barrier.
The club reported a profit for the fourth successive season, this time of £10.4m and a wage-revenue ratio of 52%.
Pep Guardiola’s side also became the first to achieve 100 points and score in excess of 100 goals.
Al Mubarak said: “Our journey is not complete and we have more targets to fulfil. We will always strive for more.”
City have just completed 10 years under the ownership of Sheikh Mansour’s Abu Dhabi United Group.
In 2007-08, their revenues were £104m, less than Turkish side Fenerbahce.
Al Mubarak said: “Most of the developments visible today are the result of a carefully crafted strategy.”