Record profits for EPL, say reports

LONDON: THE REPORT SAID THE PREMIER LEAGUE MADE A COLLECTIVE PRETAX PROFIT OF 0.5 BILLION POUNDS, ALMOST THREE TIMES THE PREVIOUS RECORD OF 0.2 BILLION POUNDS IN 2013/14.

English Premier League clubs enjoyed record profits last season, according to a report published today by financial consultants Deloitte. The report said the Premier League made a collective pre-tax profit of 0.5 billion pounds ($0.7 billion), almost three times the previous record of 0.2 billion pounds in 2013/14.

With strong broadcast revenues and Financial Fair Play rules keeping wages in check to a degree, England’s top-flight clubs also posted a record operating profit -- total revenues minus wages and other costs, apart from transfer fees, - of 1 billion, double the figure for the previous season.

Wages, however, did rise across the league by nine percent to a new record of 2.5 billion pounds but overall revenue rose 25 percent. Dan Jones, the head of Deloitte’s Sports Business Group, said the revenue increase was a result of last season being the first of a three-year domestic broadcasting deal with BT and Sky worth more than 5.1 billion.

Jones added the increase in wages was “nowhere near the level of revenue growth” and this “reflects both the extent of (the Premier League’s) financial advantage over other leagues and the impact of domestic and European cost control measures”.

Although the league has had difficulties in selling the next set of domestic broadcast rights this year, Jones forecast that clubs, who have made collective pre-tax profits in three of the last four years, would continue to record impressive financial figures.