Premier League Clubs Made Collective Profit in 2013/14 Season

The figures released by Deloitte also show that wages - which used to be a huge part of clubs' spending - have grown by six per cent in a year from £1.8b to £1.9b, an increase lower than had been expected.
Clubs also had a combined operating profit of £620m pounds in 2013/2014 - more than three times more than the previous record of £185m in 2007/2008.
And total revenues continued to rise, from £2.5b to £3.3b.
"In the first year of the preceding two broadcast deals, 56 per cent and 81 per cent of respective revenue growth was absorbed by wage costs. This time it is less than 20 per cent,” said Dan Jones, partner in the Sports Business Group at Deloitte.
"Over the previous 10 seasons wages grew by around 9 per cent per year, which is higher than the average annual revenue growth of seven per cent over that period, demonstrating further what a remarkable turnaround the 2013/14 figures represent.
"Revenue increases show no sign of ending and should make this kind of profit a regular thing.
"Such profits provide clubs with an opportunity to invest further in youth development and facilities.
"But they will also no doubt make Premier League clubs even more attractive to investors."
SOURCE: SKY SPORTS