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Annual Review of Football Finance 2021
Riding the challenge
The Deloitte Annual Review of Football Finance is produced by the Sports Business Group at Deloitte and is the most comprehensive review of the business and finances of English professional football, set within the context of the regulatory environment and the wider European game.
Welcome to the 30th edition of the Annual Review of Football Finance, the publication that remains the most comprehensive analysis of the financial trends in, and prospects for, the football industry.
This year’s publication chronicles the COVID-19 disrupted 2019/20 season, providing an analysis of the scale and impact of the financial challenges faced by European football clubs over the financial year 2019/20, and the measures clubs have adopted whilst ‘riding the challenge’.
It captures comprehensive analysis of the business drivers, financial situations, and prospects for clubs in the ‘big five’ European leagues, the top four divisions of English football, and a selection of other first tier leagues around Europe.
The publication also explores several key trends emerging from the global pandemic, including the recent surge of private equity interest in football, the continued convergence of sport with technology and media, a renewed focus on sustainability, and growth opportunities for women’s football.
Get the whole picture in the full report, available to download for free. To discuss this year’s analysis and predictions, and the impact they have on your business, get in touch with the team today.
Football Intelligence Tool
The Annual Review of Football Finance is powered by Deloitte’s Football Intelligence Tool (‘FIT’). FIT is a digital solution used by clubs, investors, industry experts and the media to quickly and reliably interrogate the finances of the European football market.
Deloitte’s Football Intelligence Tool (FIT) is a digital solution used by clubs, investors, industry experts and the media to quickly and reliably interrogate the finances of the European football market.The Tool provides access to comprehensive information on the European football market and facilitates research and benchmarking. For more information on FIT, see our dedicated website or get in touch with a member of our team to organise a demonstration.
Explore the data
Click on a group of countries to explore the data for that region
'Big five' European league clubs' revenues - 2019/20 (€m)





Note: Commercial revenue is not disaggregated into 'sponsorship' and 'other commerical' for clubs in England, Spain and Italy.
Source: Leagues; Deloitte analysis
'Big five' European league clubs' revenues and wage costs - 2018/19 and 2019/20 (€m)





Selected other European league clubs' revenues - 2019/20 (€m)












Note: This chart includes a sample of other countries ranking below fifth in terms of average top division club revenues based on the most recent available financial information. Figures for Portugal, Russia, Switzerland and Turkey related to FY2019. Figures in respect of Norway and Poland related to the year to December 2019. Figures in respect of Denmark and Sweden relate to the year to December 2020. The wages to revenue ratio in respect of Belgium is based on player payroll.
Source: Leagues; Club accounts; UEFA; Deloitte analysis.
Premier League clubs' revenues - 2017/18 - 2021/22 (£m)
Values for 2020/21 and 2021/22 are projected
Source: Deloitte analysis
Premier League and Championship clubs' average revenues - 2019/20 (£m)
Note: UCL clubs comprised Manchester City, Liverpool, Chelsea and Tottenham Hotspur. UEL clubs comprised Arsenal, Manchester United and Wolverhampton Wanderers. Championship clubs with parachute comprised Cardiff City, Fulham, Huddersfield Town, Stoke City, Swansea City and West Bromwich Albion.
Source: Premier League; UEFA; Deloitte analysis.
Premier League clubs' revenues and wage costs - 2018/19 and 2019/20 (£m)
Source: Deloitte analysis.
Football League clubs' revenues - 2018/19 and 2019/20 (£m)
Average revenue per club (£m)
Source: Deloitte analysis.
Football League clubs' revenues and wage costs - 2018/19 and 2019/20 (£m)
Note: 2019/20 League 1 average wages per club excludes Bury as the club was expelled from the Football League following a financial collapse.
Source: Deloitte analysis.
Premier League and Football League clubs' player transfer payments - 2019/20 (£m)
Note: Note: The arrows represent the flow of payments, with players moving in the opposite way. The estimated amount of fees in respect of the transfer of player registrations refer to amounts committed in 2019/20, rather than actual cashflows. The sources for the amounts in the chart relate to periods that are not necessarily coterminous.
Source: Premier League; Football League; The Football Association; Deloitte analysis.
For more detailed analysis please download the report for free
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