An annual report on football finances reveals a surge in revenue for top clubs though higher wages took a toll on profitability.
The wage bill at Premier League football clubs surged 15% to almost £3bn for the first time last season, according to a report.
Initial figures covering the 2017/18 season from the sports business group at Deloitte showed the 20 sides spent £2.9bn on salaries. It said that combined revenues hit another record sum - £4.8bn - to help pay wage demands though the revenue sum was only 4% up on the previous season meaning overall profitability took a hit.Premier League clubs spent 59 per cent of their combined revenue on wages
Arsenal, Liverpool and Tottenham Hotspur contributed over 75% of the profits, it suggested, though there was an increase in the number of clubs that were loss-making despite securing record sums from the current TV rights packages.Overall revenue was also bolstered, Deloitte said, by Premier League clubs enjoying a stronger performance in the Champions League last year with five teams reaching the Round of 16 or beyond.
Alongside the increase in UEFA distributions, matchday and commercial revenue both grew by 8% and 12% respectively.
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