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Rising wage bills curb EPL profits despite record revenues

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first_imgTottenham posted a world-record £113mn (Sh14.8bn) net profit earlier this month thanks to increased matchday revenue from playing at temporary home Wembley last season, reaching the Champions League last-16 and improved commercial income.Liverpool had briefly held the world record for their £106mn (Sh13.9bn) profit based on reaching last season’s Champions League final and the £142 million (Sh18.6bn) sale of Philippe Coutinho to Barcelona.The participation of five English clubs in the Champions League for the first time last season helped boost revenues.However, the number of clubs posting a pre-tax loss rose as Arsenal, Liverpool and Tottenham combined for more than 75 percent of total profits.That is partly because player wages rose well in excess of revenue growth.“Almost half of Premier League clubs recorded a wages/revenue ratio of 70 percent or greater, with overall wage spend increasing 15 percent to £2.9 billion,” said the report.“This had a direct impact on clubs’ collective operating profitability, falling to £0.9 billion, albeit still the second highest in Premier League history.”The rise in wages came on the back of record transfer windows for spending by Premier League clubs in the summer of 2017 and January 2018.Yet, with the rapid growth in TV rights deals slowing for the 2019-2022 cycle, Deloitte expect that spending on transfers and wages may decline in coming seasons.“With the total value of Premier League broadcast rights expected to only marginally increase in the 2019/20-2021/22 broadcast rights cycle, increases in wage and transfer expenditure may be expected to slow in the medium term, as already signalled by the reduced estimated £1.4 billion gross transfer spend in the current season,” said Tim Bridge, director in the Sports Business Group at Deloitte.“With the emphasis now on clubs to generate revenue growth from sources other than central broadcast distributions, it may be that we see the levels of pre-tax profit diminish over the next few years.”0Shares0000(Visited 5 times, 1 visits today) 0Shares0000The Premier League trophy © AFP/File / CHRIS J RATCLIFFELONDON, United Kingdom, Apr 24 – England’s 20 Premier League clubs amassed record combined revenues of £4.8 billion (Sh629bn) for the 2017/18 season, but saw profitability hit by rising wage bills, according to a report by football finance experts Deloitte.Total revenues were up six percent from £4.6 billion (Sh602bn) in 2016/17 but operating profits were just £0.9 (Sh117bn) billion due to a 15 percent increase in wages to £2.9 billion (Sh379bn).last_img read more

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ATHLETICS: MARK ENGLISH IN IRISH SQUAD FOR WORLD RELAYS

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first_imgLETTERKENNY’S Mark English is in the Irish squad for The Penn Relays which will play host to the 14th edition of USA vs. The World relays on Saturday, April 27th.There is a high quality Irish team set to compete in the Penn Relays in the exciting men’s Distance Medley Relay (DMR) event. The Irish DMR team consists of Olympian Ciaran O’Lionaird (Leevale AC) who will be running the Mile leg. The US-based athlete has shown great form throughout the 2013 indoor season after bringing home the bronze medal in the 3000m at the European Indoor Championships. Paul Robinson (St. Cocas), fresh from comfortably winning the SPAR Great Ireland Mile on April 14th and just recently returned from a spell of training in Australia, will be running the 1200m leg as part of the DMR team.World Junior Finalist and Irish Junior Record holder Mark English (UCD AC) will be running the 800m leg and has shown he is coming into superb form after cruising to victory in the Irish Intervarsity Championships 400m in a personal best time of 47.56 seconds.Clonliffe AC’s Brian Gregan who placed sixth at the European Athletics Championships in Helsinki last summer will be taking the 400m leg. Gregan showed early dominance during the indoor season and held the fastest 2013 indoor 400m time in Europe for a number of weeks.The Irish team will be up against some of the best athletes in the world racing teams from Canada, the UK, Ethiopia, Kenya, Morocco and two teams from the USA. Team USA swept the 2012 USA vs. The World relays for the first time in history last year and will be aiming to defend their dominance against the stellar international field. The Irish DMR teams collectively have numerous Irish records to their names and are sure to put up a good fight against their international rivals.  ATHLETICS: MARK ENGLISH IN IRISH SQUAD FOR WORLD RELAYS was last modified: April 24th, 2013 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:ATHLETICS: MARK ENGLISH IN IRISH SQUAD FOR WORLD RELAYSlast_img read more

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Diversity The Thing Homeowners All Have in Common

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