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Premier League clubs

The 2022/23 season was another record year, with Premier League clubs’ revenue surpassing £6 billion for the first time.

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Premier League clubs' revenue

In the 2022/23 season, Premier League clubs’ revenue increased by 11% to an all-time high of £6.1 billion.


Growth was predominantly driven by increased broadcast revenue, given the commencement of the Premier League’s new international rights agreements, and further bolstered by continued optimisation of commercial models and matchday offerings. Despite revenue improvement, rising wage costs and amortisation (of prior player acquisitions) adversely impacted pre-tax losses, with an increase of 14% to £685m. 

Each of the ‘big six’ clubs generated more than the league average of £303m (range £718m to £464m) whilst the other 14 clubs generated less (average of £184m, range £250 to £141m), with the financial gap remaining substantial. 

Matchday revenue increased 14% to £867m as stadia were largely full, a new record average league attendance of 40,291 was set and the majority of clubs increased their ticket prices. It remains to be seen what impact those price rises will have on fan sentiment and the ability of the fan to spend across a club's offerings and channels, a factor which must be considered when ticket price strategies are developed.

Commercial revenue also reached new heights, increasing £221m year-on-year to just shy of £2 billion in 2022/23. The vast majority of this growth was driven by the Premier League’s ‘big six’ clubs, with Manchester United (up £46m) and Tottenham Hotspur (up £44m) having the largest increases.

Broadcast revenue increased 9% (£278m) to £3.2 billion in 2022/23, predominantly due to higher distributions to clubs from the Premier League’s new, more lucrative international broadcast deals that run to 2024/25.

Premier League clubs’ revenue – 2020/21 to 2024/25 (£m)


Premier League clubs' profitability

In 2022/23, total wage costs increased to surpass £4 billion, while clubs’ operating profitability, before player trading, fell by 18% to £393m.


In the 2022/23 season, total wage costs once again increased, however annual growth in wages (£377m) is lower than growth in revenue (£603m) for the third consecutive season.

Overall, clubs’ operating profitability (before player trading) fell by 18% to £393m as other operating expenses increased to c.£1.6 billion, driven in part by inflation and direct costs associated with delivering certain revenue streams.  

Despite reporting aggregate operating profit, Premier League clubs reported an aggregate pre-tax loss for the fifth consecutive year (£685m in 2022/23, a 14% increase year-on-year). The £1.1 billion difference between operating profit and pre-tax loss is the net of £1.8 billion amortisation costs of transfer-in of players (up 17%), £192m finance costs in respect of net debt, £697m profit from transfer-out of players, and £191m exceptional credits.

Four clubs reported a pre-tax profit in 2022/23 (Brighton & Hove Albion: £133m, Manchester City: £80m, AFC Bournemouth: £44m and Brentford: £9m), a reduction from seven clubs in the prior season. Aston Villa reported the highest pre-tax loss of £120m, despite reporting a small pre-tax profit the year before (bolstered by £97m profit from transfer-out of players), demonstrating the volatility of financial performance in the football sector. The other 15 clubs generated an average pre-tax loss of £58m.  

In 2022/23 clubs’ net debt increased by £473m to £3.1 billion, largely driven by funding for clubs’ infrastructure projects. A portion (£52m) of this increase is attributable to the mix of clubs promoted to/relegated from the Premier League compared to previous season.

Premier League clubs’ revenue and wage costs - 2021/22 (£m)

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