Premier League Clubs

Premier League clubs' revenue

Another strong season in Europe and the commencement of an uplifted broadcast rights agreement means clubs' annual revenue is expected to exceed £7 billion in 2025/26. 

In 2024/25, Premier League clubs generated £6.8 billion in revenue, an 8% (£490m) increase on the previous season (£6.3 billion). The ‘big six’ clubs reported average revenue growth of 6% compared to 8% among the remaining consistent clubs, with many capitalising on improved on-pitch performances and the enhancing commercial appeal of English football. Season-to-season club mix contributed a £95m revenue uplift. 

Commercial revenue increased by £278m (13%), more than any other revenue stream, to £2.4 billion. The ‘big six’ clubs remained prominent contributors to this total, accounting for almost three-quarters (73%) of clubs’ collective commercial revenue. 

Matchday revenue rose by £133m (15%) in 2024/25 to surpass £1 billion for the first time. Notably, the three clubs that reported matchday revenue growth exceeding £20m (Arsenal, Manchester United and Tottenham Hotspur) all reached at least the Semi Final of a UEFA club competition, with the latter two competing in an all-English Europa League Final. Revenue growth across the league was further supported by incremental pricing of enhanced fan experiences within stadia, as well as what now appear to be consistent season-on-season ticket price increases. 

Broadcast revenue of Premier League clubs saw a marginal year-on-year increase of 2% (£80m) to £3.4 billion in 2024/25, a season that marked the final year of a three-year rights cycle. Growth was therefore primarily driven by increased distributions to high-performing English clubs participating in UEFA’s expanded and restructured competitions, which totalled £474m in 2024/25 (up 22%). 

Premier League clubs' profitability

Premier League clubs' aggregate operating profit declined by £274m to £263m in 2024/25, partly due to a changing club mix.

Premier League clubs’ wage costs increased by £381m in 2024/25, reaching a record £4.4 billion. However, against a backdrop of heightened financial scrutiny and an evolving regulatory landscape, the average wages/revenue ratio (65%) remained fairly consistent (2023/24: 64%) when considering all clubs in aggregate. 

Eight clubs reported an operating profit, compared to 13 in the preceding season. Aggregate pre-tax losses significantly worsened to £948m, a notable deterioration from the previous season’s £135m.

Whilst fluctuations in revenue and operating costs can drive season-on-season changes, much of the £812m increase in pre-tax losses was attributable to transaction decisions involving either players or other club assets.

With further growth in transfer expenditure seen in 2025/26, it is expected that player-related costs will also have increased to ultimately culminate in similar or even larger losses among Premier League clubs.

Looking beyond 2025/26, the regulatory landscape for English top tier clubs emerging from 2026 onwards will impact the P&L picture that is painted in future editions of this publication.

As well as tempering the escalation of costs that has historically eroded operating margins, these developments may also encourage more unique approaches to organic revenue generation in pursuit of compliant competitive advantage.