Manchester City chairman Khaldoon Al Mubarak insisted Manuel Pellegrini should deliver trophy this season as the club’s first post-takeover profits revealed.

The Chilean boss was also reminded that City owner Sheikh Mansour expects silverware in every season.

Though they failed to win a trophy in 2014-15 campaign, City made a £10.7million profit. The staggering figures highlight exactly how the club have managed to free themselves of any financial fair play sanctions.

City owners tagged the profit as an “historical step” but Chairman Khaldoon Al Mubarak expressed his concern as he said the lack of silverware last season is a great disappointment. The statement might throw a warning to manager Manuel Pellegrini.

Khaldoon revealed: “The fact that we consider last season to be below par for Manchester City is a testament to how far we have come in the last seven years. This is a level of ambition that we should not shirk or shy away from.

“It is right to have high expectations for this great club and the talented group of players chosen to represent it. No team can expect to win every year, but competing to win in England’s domestic competitions and improving our performance in the UEFA Champions League are entirely reasonable goals for Manchester City.”

Manchester City finished as runners-up in last season’s Premier League next to Chelsea. There were also shock early exits from both domestic cups followed by exit from Champions League’s last 16 stages.

“The desire for silverware has always been a critical element of His Highness Sheikh Mansour bin Zayed’s strategy for the reinvigoration of Manchester City FC both on and off the pitch.

“To put things in their simplest terms, we are now a profitable business with no debt and no outstanding restrictions.”

Chief executive Ferran Soriano also added: “The 2014-15 season marked a historical step in Manchester City’s journey.”

After last season’s frustrating end, Pellegrini wasn’t sacked, rather was given a contract extension along with £160 million summer transfer budget. But this season the club hierarchy has made it clear; things will not go on as the last time. Another trophy less season and Pellegrini will be shown the door as Bayern Munich boss Guardiola whose current contract with the club ends next year, is lining up to replace him.