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New era of profit for European football

Record revenues for Europe's biggest football leagues have created a new era of profitability at the continent's top clubs where income is outpacing spending on players for the first time.

The combined revenues for clubs in the top divisions in England, Spain, Germany, Italy and France were €14.7bn in the 2016-17 season, an increase of 9 per cent compared with the previous year, propelled by the escalating value of television rights deals.

According to Deloitte Sports Business, the Premier League's retains its leading financial position, with its 20 clubs generating €5.3bn in income. Revenues at Premier League clubs are up 25 per cent year on year, with wage growth up 9 per cent. No Premier League team made an operating loss in the 2016/17 season despite the huge sums spent on transfer fees.

Dan Jones, partner at Deloitte Sports Business Group, said the figures marked 'a financial revolution'. A decade ago 60 per cent of Premier League clubs were making a loss, with clubs spending the majority of income on players.

A new TV rights deal for Spain's La Liga helped its clubs generate a combined €2.86bn in revenues over the 2016-17 season, overtaking Germany's Bundesliga as the second highest earning league in Europe.

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