LONDON: The Premier League underlined its financial muscle as the European football market grew by 16 per cent to €35.3 billion (US$37.9 billion) in the 2022/23 season, according to Deloitte.
The “big five” European leagues generated total revenue of €19.6 billion, up 14 per cent on the previous campaign and reported an aggregate operating profit of €500 million for the first time since the 2018/19 season.
Coffers were boosted by the lifting of all remaining coronavirus restrictions and the 2022 FIFA World Cup, held in Qatar, according to the Annual Review of Football Finance published by the Deloitte Sports Business Group.
Revenue growth in the Premier League, Bundesliga, La Liga, Serie A and Ligue 1 was driven by various factors including an uptick in matchday revenue and sponsorship deals.
Premier League clubs’ revenue grew 11 per cent to top £6 billion (US$7.6 billion) for the first time, registering an aggregate revenue of £6.1 billion.
Net debt in the English top flight in the 2022/23 season rose from £2.7 billion to £3.1 billion, largely driven by funding for infrastructure projects.
Clubs in the Bundesliga and Serie A recorded the largest average percentage growth over the previous season – 22 per cent in each case.
Bundesliga clubs generated total revenue of €3.8 billion while Serie A club revenue totalled €2.9 billion.