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Annual Review of Football Finance 2023

Welcome to the 2023 Annual Review of Football Finance, the leading independent review of the business and finances of European professional football.

The 32nd edition of the publication chronicles the 2021/22 season, as European football is set between the crossroads of some of the most pivotal regulatory changes that the game has ever seen.

A balancing act

TThe European football market grew 7% to €29.5 billion over the 2021/22 season, due to record matchday and commercial revenues.

Led by the ‘big five’ leagues, the improvement of financial performance across all European leagues resulted in a 7% growth in revenue terms of the European football market (albeit the previous year was impacted by the pandemic).

The ‘big five’ European leagues generated record aggregate revenues of €17.2 billion, outperforming the pre-pandemic benchmark of €17 billion set in 2018/19, driven by €815m growth in commercial revenues across that period.

The Premier League continued to entrench itself as the market leader, with growth in the English top-tier outpacing the rest of Europe’s ’big five’ leagues, as both matchday and commercial revenues reached an all-time high. The Premier League reported a 12% rise in overall revenues in the 2021/22 season, culminating in a record aggregate revenue of £5.5 billion.

As polarisation is a growing challenge, there are increasing calls to seek ways to promote strong competitions to help protect and build fan interest and value for clubs, leagues and governing bodies alike. And the introduction of new regulations across England and Europe are more appropriately timed than ever due to the challenge of emerging leagues.

A plethora of organisations around the world are now invested in the success of clubs and leagues both on and off the pitch and the result is that a balancing act is required as investors, owners and governments all seek success. Whatever that success looks like, it is critical to remember that financial sustainability will underpin arguably Europe’s largest cultural property.

IIn the 2021/22 season, the ‘big five’ European leagues generated record aggregate revenues of €17.2 billion, outperforming the pre-pandemic benchmark of €17 billion in 2018/19, driven by €815m growth in commercial revenues across that period.

Click the below links to read further analysis of European professional football across the 'big five' and Women's Super League.

Future outlook: Three topics shaping the future of football

Download the 2023 Annual Review of Football Finance

Deloitte’s Annual Review of Football Finance is the leading independent review of the business and finances of European professional football. Download the report for further data on the revenue generated by clubs and leagues over the 2021/22 season and analysis of what will build financial sustainability in the years ahead.

Deloitte's Sports Business Group

Deloitte’s Sports Business Group is a leading advisor to the sports business market. We provide clients with specialist sports knowledge and insight that enables change, resolves challenges, enhances value and fuels opportunities for growth. To date, we have advised in over 40 countries and across more than 30 different sports.

Deloitte's Annual Review of Football Finance has been a chronicle for the business and finances of European football for over thirty years. Download previous editions via the links below.