Premier League clubs post record revenues as Europe recovers from COVID-19 impact

LONDON : Premier League club revenues rose by 12 per cent to a record 5.5 billion pounds ($6.96 billion) in the 2021-22 season as European football capitalised on fans returning to stadiums after the COVID-19 pandemic, according to analysis from Deloitte.

In its Annual Review of Football Finance, Deloitte's Sports Business Group said the "big five" leagues in England, Spain, Germany, Italy and France had a combined 10 per cent rise in revenues - with Spain's LaLiga rising 11 per cent to 3.3 billion euros ($3.57 billion) while France's Ligue 1 shot up 26 per cent to 2 billion euros.

Italy's Serie A was the only league of the five to record a decrease in revenue, falling 7 per cent to 2.4 billion euros.

Matchday revenue for the Premier League rose to 763 million pounds in 2021-22, far surpassing the 2020-21 season, large portions of which were played behind closed doors, as well as improving on pre-pandemic levels of 684 million euros in the 2018-19 season.

"Topline figures show that European football has emerged resiliently from its most challenging period to date," said Tim Bridge, 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."

Despite rising revenues, operating profits in the big five leagues has declined by 1.8 billion euros since the 2018-19 season, thanks in part due to a 15 per cent rise in wage costs.

Clubs will have to adjust wage costs in future to adhere to UEFA's new "sustainability regulations", which were passed in 2022 and limit teams to spending no more than 70 per cent of their revenue on their squads.

The regulations came into force in 2022. The 70 per cent figure will be