PARIS: England's Premier League clubs scored record sales last season, a survey showed Friday, but their profits took a hit from player salaries that reached $2.8 billion.

It was nevertheless a strong year, giving the top flight clubs a “significant advantage” over most of the rest of Europe in luring new talent, said a study released by professional services group Deloitte.

With record-breaking combined revenues of #3.4 billion (4.3 billion euros/$4.8 billion), the Premier League posted a second straight year of profits in 2014/15, the first such double since 1999, according to Deloitte.

Pre-tax profits still took a knock, though, skidding to nearly #120 million from #190 the previous season.

The culprit was a six percent rise in wage costs, which hit a record #2 billion ( $2.8 billion/2.5 billion euros.

“Premier League clubs now enjoy a significant revenue advantage over all but a handful of the biggest clubs from elsewhere in Europe,” said Andrew Bull, consultant at Deloitte's sports business group.

“This has earned the Premier League clubs a huge and self-perpetuating advantage over continental peers in terms of attracting playing talent.”

Last season, Chelsea usurped Manchester United and Manchester City at the top of the Premier League's wage bill chart, according to annual figures released in January by Britain's registrar of companies.

Chelsea, owned by Russian billionaire Roman Abramovich, reported a total wage bill of #215.6 million, a rise of #25 million, it said.

Opinion

Editorial

Ties with Tehran
Updated 24 Apr, 2024

Ties with Tehran

Tomorrow, if ties between Washington and Beijing nosedive, and the US asks Pakistan to reconsider CPEC, will we comply?
Working together
24 Apr, 2024

Working together

PAKISTAN’S democracy seems adrift, and no one understands this better than our politicians. The system has gone...
Farmers’ anxiety
24 Apr, 2024

Farmers’ anxiety

WHEAT prices in Punjab have plummeted far below the minimum support price owing to a bumper harvest, reckless...
By-election trends
Updated 23 Apr, 2024

By-election trends

Unless the culture of violence and rigging is rooted out, the credibility of the electoral process in Pakistan will continue to remain under a cloud.
Privatising PIA
23 Apr, 2024

Privatising PIA

FINANCE Minister Muhammad Aurangzeb’s reaffirmation that the process of disinvestment of the loss-making national...
Suffering in captivity
23 Apr, 2024

Suffering in captivity

YET another animal — a lioness — is critically ill at the Karachi Zoo. The feline, emaciated and barely able to...