adminLONDON. — English Premier League soccer’s clubs have recorded the first combined pre-tax profit for 15 years thanks to the soaring value of television deals and a slowdown in players’ salaries. While on-field performances of England’s top teams against Europe’s elite have regressed in the Champions League and Europa League, their bank accounts are bulging, according to business advisory firm Deloitte.
In 2013-14, Premier League clubs generated a combined pre-tax profit of 190 million pounds — four times greater than the previous record of 49 million in 1997-98.
The figures are in sharp contrast to the previous decade when Premier League clubs accumulated combined pre-tax losses of 2.6 billion pounds.
Deloitte analyst Dan Jones said clubs were now spending less of their income on players’ salaries.
“Last season was the first in the Premier League’s current three-year broadcast deal, which was a record breaker when it was struck,” Jones said.
“Despite this extra income clubs showed relative restraint in wage costs, which grew by six percent. With the recent announcement of another record Premier League broadcast deal, the revenue increases show no sign of ending and should make this season’s profit a regular outcome.” — Reuters.
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