Clubs are on course to break their transfer spending record this summer. (AP Photo/Frank Augstein)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The Premier League's reputation as richest in the world was reinforced by an annual football finance report which showed record revenue of 3.6 billion pounds ($4.63 billion) in 2015/16, a 9 percent jump on the previous season.Although wages are soaring, up 12 percent to 2.3 billion pounds as clubs anticipated expected income from the latest lucrative broadcasting deal, the report said there was evidence of a more prudent approach with just 44 percent of revenue increases being spent on wages since 2012/13, compared with 99 percent in the five years before that.The second-tier clubs recorded a record combined operating loss of 261 million pounds with net debt rising to 1.3 billion pounds as owners continued to gamble on reaching the Premier League.
FOLLOW THIS ARTICLE