English Premier League football clubs posted record revenues, but still a collective pre-tax loss of £110m (€131m/$141m) in the 2015-16 season, according to the latest figures from accountancy firm Deloitte.
Total turnover across the 20 clubs hit £3.6bn last season – up from £3.4bn in the 2014-15 campaign – but rising wage costs (up from £2bn to £2.3bn), operating costs (£800m to £900m) and a doubling of ‘other costs’ (£100m to £200m) had an impact.
Eighteen clubs posted an operating profit, but only 12 clubs posted a pre-tax profit, the figures showed. The collective loss represented the first time the league’s clubs had slipped into the red in three seasons.
Manchester City and Manchester United were responsible for more than 50 per cent of the overall revenue increase, with the two clubs contributing a total rise of £160m.