The move to the new stadium has obviously done City good with the increased attendances and the possibility of staging major music concerts and other sporting events helping the club rake in the record figure.
City came above Rangers and Marseille in the top 20 of the Deloitte Football Money League, while Manchester United topped the league for the eighth year in a row with an income of £171.5m, ahead of Real Madrid, AC Milan, Chelsea and Juventus. Arsenal, Liverpool Newcastle and Tottenham were also ahead of City.
The huge turnover the Blues enjoyed last season will help alleviate the club’s £62m worth of debt, and perhaps allow manager Kevin Keegan some much-needed transfer funds.
Chief executive Alistair Mackintosh - who insists that City’s debt does not represent a long-term problem as it is a combination of 'soft loans' from chairman John Wardle and JD Sports business partner David Makin, and borrowings used to upgrade the City of Manchester Stadium – was naturally delighted.
"This is terrific news and emphasises the tremendous progress the club is making, both on and off the field," said Mackintosh, whose club have 34,500 season ticket holders - and the third highest average attendance in the Premiership.
"Our turnover has more than trebled from £17.5m in 2000 and the current figures reflect the major backing we receive from all sections of our sponsors and support.
"Revenue streams are growing with all areas of our off-field activity being developed and we will continue to utilise our stadium for major events, including concerts by U2 and Oasis this summer as well as the first game of the 2005 Women's European Championship."