June 4, 2015: As increased TV monies and Financial Fair Play rules took effect, the English Premier League clubs achieved record revenues and profits in 2013-14.
As per the source, it may mark a turning point in football finance and “a new age” of significant profitability for top clubs since the combined revenues soared by 29% to Â£3.26bn, and the clubs made pre-tax profits of Â£187m, the first since 1999. League revenues were more than in Spain and Italy’s top divisions combined. Similarly, England’s top division also generated in excess of Â£1bn more in revenues than its nearest rival, Germany’s Bundesliga.
Mr Jones said that since the Bosman ruling financial Fair Play could be the most significant development in the football business . Early signs are that this is the case and indeed the change in club profitability in 2013-14 was more profound than anything we could have forecast.Likewise, the league’s wages to revenue ratio – always a concern – fell dramatically from 71% to 58%, the lowest since 1998-99.
Further, Mr Jones said that with the Uefa Financial Fair Play requirements continuing and the Premier League’s own Short Term Cost Control measure currently in force for 2014-15 and 2015-16, the wages to revenue ratio should remain close to or below the 60% threshold. he said that with no team in the final since Chelsea’s victory in 2012, while the Premier League was in “rude financial health”, that had not been translated into Champions League success.