Premier League football clubs saw a combined loss of £110m
What’s to blame?
Figures from Deloitte show that Premier League football clubs in England saw a combined loss of £110m in 2015/16 despite seeing record revenues.
After two years of profit, rising costs and wage bills are to blame. However, a TV deal could help numbers climb for the current season.
Last season revenues managed to rise to £3.6bn, this is up £0.2bn since the previous campaign. Manchester United and Manchester City accounted for more than half of the rise.
United’s revenue grew to a massive £515m, this made them top in the Deloitte Football Money League for the very first time since 2003/04. They were also the world’s highest revenue-generating club.
Operating profits at the 20 clubs remained steady but wage costs increased by 12 per cent to £2.3bn.
Dan Jones, partner and head of the Sports Business Group at Deloitte, spoke of the loss and blamed it on “a small number of one-off exceptional costs”.
He also added: “We fully expect that the Premier League’s new three-year broadcast rights deal will see a return to record levels of profitability in the 2016/17 season.”