Malaga boss Manuel Pellegrini is the front-runner to take over at the Etihad Stadium, and will be expected to make swift progress with the defeated FA Cup finalists.
Roberto Mancini was axed earlier this month after a trophyless campaign, but the club are confident a change of manager will boost performances and are eager to get back to winning ways.
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“In the grand scheme of things, if we look at the next five years and I could plan now, I would say I want to win five trophies in the next five years.
“That’s the Champions League, the Premier League or the FA Cup. I think it’s a realistic aim.
“If next year we don’t win, but progress our football and get to the semi-finals of the Champions League, finish second in the Premier League and lose the FA Cup Final again, that will be fine. That’s because we will have progressed in the way our football develops.”
Soriano also stressed the importance of developing young players, citing both Barcelona and local rivals Manchester United, and believes forging a core of home-grown players is vital to City's long-term success.
“Teams that have won consistently in the past have a core of players that are home-grown,” he continued.
“I’ve seen it to the extreme in Barcelona, where we won the Champions League, with nine out of the 11 players in the team home-grown. And you’ve seen it at United.
“It’s consistent. You can’t win one year after the next if you don’t have a core of players that have been playing together for a long time.
“What we also want is football concept so that the basic way we play is shared by the whole organisation. From young teams all the way up to the first-team.”