English men's soccer’s top-tier Premier League (EPL) has released its annual financial report for the year ending July 31, 2024, seeing profits and costs both increase during the second year of a three-year cycle of broadcasting and other commercial rights contracts.
The league had a total turnover of £3.63 billion in 2024, with a statutory profit after tax of £118.2 million, a significant decrease from the £216.5 million in 2023.
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Underlying turnover has, meanwhile, increased by 4.9%, due to contracted increases in broadcast revenue, with total assets now sitting at £2.718 billion. This has led to the funds available for distribution to the league’s 20 clubs increasing to £2.919 billion, up from 2023’s £2.833 billion, and a net cash flow of £304.9 million from operating activities.
Turning to the league's operating expenses, these have increased by 23% due to the hiring of additional staff, an increase in wider soccer support, and an increase in legal fees due to a range of ongoing cases, including multiple cases involving 2023-24 Champions Manchester City (who, in one case, face around 130 charges concerning alleged breaches of financial fair play regulations between 2009 and 2018).
Indeed, the EPL's administrative expenses last year – legal fees are housed here in the league's accounts – rose to £200.2 million last season, up significantly from £123.7 million in 2022-23.
The Man City case mentioned above was first brought by the Premier League in early 2023, with a hearing by an independent tribunal having only taken place during the last few months of 2024 – meaning the case was running across the entire 2023-24 season.
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By GlobalDataIncome from finance, meanwhile, has increased by 85.1% due to increased global interest rates on cash balances.
