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Annual Review of Football Finance 2020

Home truths

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 29th edition of the Annual Review of Football Finance 2020, the publication that remains the most comprehensive analysis of the financial trends in, and prospects for, the football industry.

The Report covers the 2018/19 season which saw English and European football reach new record levels of revenue generation. This snapshot of the peak before the impact of the COVID-19 pandemic also includes some warning signs for the challenges to come.

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 businessget in touch with the team today.

The Databook

The Deloitte Annual Review of Football Finance Databook is available to purchase on the Deloitte Store. The most comprehensive source of football finance data, this 44 page book contains over 8,000 data items covered in our annual report. It is the most comprehensive source of football finance data currently available.

Football Intelligence Tool

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.

FIT gives you access to nearly 10 years of data contained within the Annual Review of Football Finance. Find out more about the tool and to book your free, personalised demonstration.

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Activity by country
Revenue

'Big five' European league clubs' revenues - 2018/19 (€m)

England
Spain
Germany
Italy
France
Average revenue per club (€m)
293
169
186
125
95
Average match attendance
38,484
26,585
42,738
24,106
22,833
Stadium utilisation
97%
75%
88%
61%
74%

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 - 2017/18 and 2018/19 (€m)

England
Spain
Germany
Italy
France
17/18
18/19
17/18
18/19
17/18
18/19
17/18
18/19
17/18
18/19
Wages/revenue ratio
59%
61%
66%
62%
53%
54%
66%
70%
75%
73%
Average club wages (€m)
161
179
102
105
93
100
74
88
63
69

Selected other European league clubs' revenues - 2018/19 (€m)

Russia
Turkey
Netherlands
Portugal
Belgium
Austria
Scotland
Denmark
Norway
Sweden
Poland
Average revenue per club (€m)
47
42
33
24
22
21
20
14
9
9
8
Wages/revenue ratio
70%
79%
57%
75%
49%
63%
65%
64%
58%
71%
74%
Number of clubs
16
18
18
18
16
12
12
14
16
16
16

Note: This chart includes a sample of countries ranking below fifth in terms of average top division club revenues for the most recent available financial results. Figures in respect of Turkey, Portugal, Russia and Norway are in respect of FY2018. Figures in respect of Denmark and Sweden relate to the year to December 2019. Figures in respect of Poland relate to the year to December 2018. The wages/revenue ratio in respect of Belgium is based on player payroll only.

Source: Leagues; Club accounts; UEFA; Deloitte analysis.

Revenue

Premier League clubs' revenues - 2016/17 - 2020/21 (£m)

Values for 2019/20 and 2020/21 are projected

16/17
17/18
18/19
19/20
20/21
Average revenue per club (£m)
228
241
258
215
270

Source: Deloitte analysis

Premier League and Championship clubs' average revenues - 2018/19 (£m)

Note: UCL clubs comprised Liverpool, Manchester City, Manchester United and Tottenham Hotspur. UEL clubs comprised Arsenal and Chelsea only as Burnley was eliminated in the play-off round of qualification.

Source: Premier League; UEFA; Deloitte analysis.

Premier League clubs' revenues and wage costs - 2017/18 and 2018/19 (£m)

2017/18
2018/19
Wages/revenue ratio
59%
61%
Average club wages (£m)
142
158

Source: Deloitte analysis.

Revenue

Football League clubs' revenues - 2017/18 and 2018/19 (£m)

Average revenue per club (£m)

17/18
18/19
Championship
31
33
League 1
6
8
League 2
4
4

Source: Deloitte analysis.

Football League clubs' revenues and wage costs - 2017/18 and 2018/19 (£m)

Championship
League 1
League 2
Wages/revenue ratio
106%
107%
94%
80%
78%
78%
Average club wages (£m)
33
35
6
6
3
3

Source: Deloitte analysis.

Premier League and Football League clubs' player transfer payments - 2018/19 (£m)

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 2018/19, 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; Football Association; Deloitte analysis.

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