English Premier League clubs enjoy record profits

Author: Agencies

MANCHESTER: Premier League clubs enjoyed record profits and revenues in the 2016-17 season according to data released on Friday by Deloitte, who expect profitability to continue despite a decline in domestic broadcasting revenue. The combined revenues of Premier League clubs increased by nearly 1 billion pounds ($1.4 billion) to a record £4.5 billion in the 2016-17 season. The collective pre-tax profit of £0.5 billion was almost three times the previous record of £0.2 billion in 2013-14, reported Deloitte. Deloitte found that wage costs across the league rose by nine percent to £2.5 billion, a new record, but noted that growth was significantly slower than the 25 percent increase in overall revenue.

Published in Daily Times, April 21st 2018.

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