An increase in media-rights income with a fall in the percentage of player wages as a proportion of turnover, helped clubs to return to the black.
Deloitte reported that the league’s 20 clubs generated a pre-tax profit of £190m (€266m/$281m) in 2013-14 – the first time a positive result has been posted since the 1998-99 campaign after losses of 316 million pounds ($470 million) in 2012-13.
The 2013-14 season was the start of three-year television deals worth more than $8 billion for the world's richest soccer league.
"The introduction of cost control regulations at both a European and domestic level has caused many clubs to watch their spending more closely than ever before and created a useful tool for clubs to reduce the inflationary pressures during negotiations with players and agents," said Adam Bull, a senior consultant in the sports division at Deloitte.
According to reports, the league’s clubs are meeting in London today (Thursday), with Premier League chief executive Richard Scudamore likely to be appointed as executive chairman. There might also be a reshuffle of the league’s board.
Image credit: The Guardian
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