The financial strain on Premier League clubs deepened last season. Combined pre-tax losses reached £948 million. That was more than six times higher than the previous year.
The figures come from Deloitte’s latest Annual Review of Football Finance. The report points to heavy transfer spending and fewer one-off profits from player sales as the main reasons for the sharp increase.
Net debt also edged higher. It rose from £3.5 billion to £3.6 billion during the 2024/25 season.
Transfer Spending Took Its Toll
Premier League clubs continued to invest heavily in players. At the same time, fewer clubs benefited from major player sales.
That combination pushed losses to their highest level in recent years. The financial picture was also challenging in the Championship. According to Deloitte, combined pre-tax losses in England’s second tier increased by 12 per cent to £355 million.
Only three Championship clubs recorded a pre-tax profit during the season.
Calls for Financial Reform Grew
Tim Bridge, lead partner in the Deloitte Sports Business Group, said many clubs below the Premier League now depend on outside funding to keep operating.
“The cumulative financial position and worsening club losses across all three English Football League divisions underline a continuing trend,” Bridge said.
He added that external funding had become essential for most clubs to maintain liquidity. Efforts to agree a new financial settlement between the Premier League and the English Football League have stalled since 2024.
The Independent Football Regulator now has the authority to step in if the two sides cannot reach an agreement.
European Football Continued to Expand
Across Europe, football revenues continued to rise. Deloitte said the European football market grew by six per cent to €40.2 billion (£34.3 billion) during the 2024/25 season.
The increase came during the first campaign featuring UEFA’s expanded men’s club competitions. Bridge, however, warned against relying on more matches to solve football’s financial problems.
“The expansion of UEFA and FIFA competitions has delivered financial benefits across Europe’s ‘big five’ leagues,” he said.
“But football cannot rely on simply adding more content to deliver sustainable growth.”
The report paints a mixed picture. Revenues continue to grow. But so do costs. For many clubs, the challenge is no longer earning more. It is spending less.
About the Author
