The Premiership was confirmed as the biggest and most successful football league in the world yesterday, with the release of Deloitte's annual Football Finance review. The Premier League clubs raked in over £2 billion - over £700m more than their nearest challengers!
The Premier League clubs shared revenues of £2 billion, whilst Germany's Bundesliga clubs earned £1.4 billion, Spain and Italy netted £1.3 billion each, and France took home a measly £0.9 billion.
It seems that the Premier League is a money-making machine, with revenues growing by almost £50m in the last 12 months alone!
So what is all this lovely lucre being spent on? More comfortable seats for fans? Cuts in prices to keep tickets affordable for their loyal followers? Sadly not! Whilst revenues went up by £50m, the amount spent on player wages went up by almost £70m - meaning that clubs are practically £20m worse off than this time last year!
You can see why the clubs do it, because where you finish in the table is pretty much directly proportional to how much you spend - the top 3 places in the league were taken by the three biggest wage-payers. Chelsea paid £174m, Manchester City £133m, and Manchester United £132m.
City spent more on player wages than they earned - a whopping 107% of last year's revenue! By contrast, their Manchester rivals, with debt repayments to handle and bigger revenues from an extremely successful commercial operation, spent just 46% of their money on player wages. The league average was 68%.
More worrying was the fact that even with all this cash coming in, the Premier League clubs made record losses. Even with £2bn coming in, the 20 Prem clubs managed to lose a record £445m! It's no wonder the top finance bods at Deloitte are calling it 'crunch time' - if it carries on at this rate, there will only be 5 teams left in England before too long…
How wish lfc will extend Raul meireles contract cos he contributed alot to the team;