Manchester City have announced that they made losses of £97.9million for the 2011/12 season.
Despite winning the Premier League title for the first time, City leaked close to £100million, but that is a massive improvement on the £197.5m they los the season prior.
City reported turnover of £231.1m for the 2011/12 season which was the highest in the club's history.
Chairman Khaldoon al-Mubarak said: "The hard work of everyone involved at Manchester City over the last four years has begun to create an obvious momentum.
"However, 2011/12 will always be remembered as a particularly significant year in the history of the Club, a season when Manchester City demonstrated an ability to win in even the most challenging of circumstances.
"It is important to recognise the personal and ongoing influence of Sheikh Mansour bin Zayed on the rapid transformation that is taking place."