The Premier League established itself as the leader in the European football market in the 2021-22 season, an annual financial report by Deloitte has shown.
The English top tier’s aggregate revenue of £5.5bn in 2021-22 was nearly double that of Spain’s La Liga.
The return of crowds to stadiums after the Covid-19 pandemic helped to grow revenues by 10% across Europe.
However, a 15% increase in wage costs across the ‘big five’ leagues caused a loss in operational profits.
“Topline figures show that European football has emerged resiliently from its most challenging period to date,” said Tim Bridge, a lead partner in Deloitte’s Sports Business Group.
“Following the lifting of Covid-19 restrictions, fans’ pent-up demand gave rise to record matchday and commercial revenues across Europe.”
Top-flight clubs in England reported a 12% rise in overall revenues during the 2021-22 season to a record aggregate revenue of 6.4bn euros (£5.5bn).
Matchday revenue in the Premier League totalled £763m – a £732m increase from the 2020-21 season, when the football was played, for the most part, behind closed doors.
Following the full re-opening of football stadiums in August 2021, the average attendance reached an all-time high of 39,950 across the course of the season, which helped to surpass pre-pandemic matchday revenue levels of £684m from the 2018-19 campaign.
Deloitte put the Premier League’s commercial revenue reaching a new high of £1.7bn down to fans’ renewed appetite for football after the pandemic.
Bridge said international interest was continuing to drive the Premier League’s revenue growth but warned that “sustainable operating, funding models and acting with integrity” needed to be at the top of stakeholders’ minds to ensure the league’s “longevity and ultimate success”.
Despite seven Premier League sides reporting a reduction in wages, the overall wage costs – which covers playing and non-playing staff – increased by 6% to £192m, rising for a second year running.
Wage increases remain outpaced by revenue growth but, with a £395m rise in operating expenses, clubs’ operational profit – which excludes player transfer funds – in the 2021-22 season was down £1m from the previous year to £459m. (BBC)