Barclays English Premier League clubs generated record combined revenues of six billion dollars in 2013-14 season, as increased TV monies and Financial Fair Play rules took effect.
According to the new reports submitted by business firm Deloitte, combined revenues soared by 29% to six billion dollars, and the clubs made pre-tax profits of 187 million pounds, the first since 1999, the BBC reported.
The report also said that out of 20 clubs in the league, 15 of them had made profit in 2013-14.
With this the English Premier League has cemented its place as the world’s richest football league, outstripping that of the next richest league, Germany’s Bundesliga, by more than one billion pound.
Dan Jones, head of Deloitte’s Sports Business Group said that the transformation of Premier League club profitability would fuel even greater global investor interest in Premier League clubs.
He insisted that with significant future revenue growth already secured through the recently agreed domestic broadcast rights deals from 2016-17 to 2018-19, as well as the success of cost control regulations, the risks associated with investment in Premier League clubs seem to be diminishing.