Premier League Revenues Hit £6.8bn But Faces Widening Financial Divide

Premier League clubs generated record aggregate revenues of £6.8bn in 2024/25, underlining the continued commercial strength of English football’s topflight, but Deloitte has warned that rising losses and pressure across the wider pyramid point to a growing financial divide.

The figures, published in Deloitte’s 35th Annual Review of Football Finance, show the Premier League remains Europe’s dominant domestic competition by revenue, with English clubs benefitting from strong commercial performance, increased matchday income and participation in expanded UEFA club competitions.

Across Europe, football revenues surpassed €40bn for the first time in 2024/25, growing 6% to €40.2bn. However, for English clubs, the headline growth was accompanied by renewed questions around profitability, cost control and the sustainability of the financial model below the Premier League.

Premier League clubs’ aggregate revenue rose 8% year-on-year to £6.8bn and is expected to have exceeded £7bn in 2025/26, supported by the start of an uplifted broadcast rights agreement and the success of English clubs in European competitions.

Commercial revenue remained a major driver of top-flight growth, increasing 13% to £2.4bn. The Premier League’s traditional ‘big six’ clubs accounted for 73% of total commercial income, highlighting the scale advantage held by the division’s largest global brands.

Matchday revenue also reached a new high, rising by £133m, or 15%, to surpass £1bn for the first time. Deloitte said the uplift was helped by more English clubs reaching the later stages of European competitions, ticket price increases and increased stadium capacity.

Broadcast revenue increased marginally by 2% to £3.4bn, remaining the largest income stream for Premier League clubs.

Despite the revenue growth, Premier League clubs’ pre-tax losses increased sharply from £135m in 2023/24 to £948m in 2024/25, driven by transfer spending and the absence of significant one-off profits from player sales. Net debt across the division stood at £3.6bn at the end of the season, up from £3.5bn a year earlier.

Tim Bridge, lead partner in the Deloitte Sports Business Group, said: “The expansion of UEFA and FIFA competitions has delivered financial benefits across Europe’s ‘big five’ leagues, but football cannot rely on simply adding more content to deliver sustainable growth.

“An increasingly saturated market may not be good for players or fans, particularly if it weakens the on-pitch spectacle. This approach, without a collective mindset from all rightsholders, risks prioritising short-term gain over long-term prosperity.

“European football has forged the dominant position on the world stage, but as US sports consider moves to the European market, and competition from other entertainment businesses intensifies, there are undoubtedly challenges ahead.

“Now is the time for leaders to concentrate on diversifying business models, while collaborating with others on a shared plan for the future. Strong leadership and innovation, underpinned by fit-for-purpose regulation are paramount.”

Championship pressures underline English football’s funding gap

Below the Premier League, Deloitte’s analysis highlighted continuing financial pressure in the Championship, where aggregate club revenues fell 2% to £942m in 2024/25, the first season-on-season decline since the pandemic.

Commercial revenue in the Championship declined 10% to £273m, while pre-tax losses rose 12% to £355m. Only three clubs reported a pre-tax profit, compared with four in 2023/24.

Aggregate wage costs in the second tier increased marginally to a record £903m, marking the second consecutive season of wage growth following four seasons of reduction.

Bridge added: “The cumulative financial position and worsening club losses across all three English Football League divisions underline a continuing trend; one where external funding is now critical to liquidity in the vast majority of cases.

“Upcoming regulatory changes could support future improvements, but the focus must now shift to stronger commercialisation and sustainable growth, or a plan to bridge the gap to the Premier League to unlock the huge amount of value within football at all levels.”

WSL growth accelerates but gap widens

The Women’s Super League delivered the strongest percentage growth among the English competitions covered in the report, with aggregate club revenues rising 39% to £90m in 2024/25.

Commercial income remained the key growth driver, increasing by £15m to £41m, while matchday revenue rose 16% to £14m and broadcast revenue increased 11% to £11m. For the second consecutive season, all 12 WSL clubs reported revenue of more than £1m.

However, Deloitte said financial divergence was widening, with the top four revenue-generating clubs accounting for 71% of total league revenue, up from 66% in 2023/24.

Jennifer Haskel, knowledge and insight lead in the Deloitte Sports Business Group, said: “As investment continues across the WSL, expectations are firmly on clubs to grow their businesses, adapt operating models, and simultaneously engage fans and partners. There are countless signs of rising marketability in the women’s game, but this progress is uneven, with many clubs struggling to keep pace while the top tier teams widen the gap.

“This points to a critical juncture for the professional leagues. Revenues, visibility and commercial viability continue to grow, but the challenge remains to translate that momentum across the pyramid into a consistent and compelling fan experience.

“The next phase of growth will require collective investment from clubs, partners, and fans to heighten the competition between teams and lay the turf for sustainable growth.”

European context

Across Europe’s ‘big five’ leagues, aggregate club revenue rose 6% to €21.6bn in 2024/25. While the Premier League continued to set the pace, Bundesliga clubs grew 12% to surpass €4bn for the first time, LaLiga revenues increased 9% to €4.1bn, Serie A rose 4% to €3bn and Ligue 1 fell 15% to €2.2bn.

Deloitte said growth across Europe’s leading leagues is expected to slow in the coming seasons, with some markets facing a plateau or reduction in aggregate club revenues in 2025/26 and 2026/27.