​Premier League clubs have recorded pre-tax losses that surged by more than sixfold in a single year, according to a new report that underscores growing financial pressures across English football. Deloitte’s Annual Review of Football Finance for 2024-25 shows the top flight collectively losing £948 million, a dramatic jump from £135 million the season before. The spike is largely driven by substantial spending on transfers and a scarcity of meaningful profits from isolated player sales.
The strain extends to net debt, which rose to £3.6 billion in 2024-25 from £3.5 billion. The Championship also faced a deteriorating financial outlook, with pre-tax losses increasing by 12 percent to £355 million, and only three clubs in the division reporting a profit in the same period.
Tim Bridge, the lead partner of the Deloitte Sports Business Group, emphasized the gravity of the situation. He observed that the combined financial position and the worsening losses across all three English Football League divisions reveal a continuing pattern: external funding has become essential to liquidity for the vast majority of clubs. He noted that future regulatory changes could help improve the outlook, but the immediate priority must be to enhance commercial performance and pursue sustainable growth, or to devise a strategy that bridges the gap to the Premier League to unlock the substantial value present in football at every level.
The report also drew attention to the pronounced financial gulf between the Premier League and the EFL. The top tier generated £6.8 billion in revenue, while the Championship produced £942 million—a figure that even declined by two percent for second-tier clubs.
Talks around a “New Deal” to promote a fairer distribution of television revenue between the Premier League and the EFL have stalled since 2024. Nevertheless, the forthcoming Independent Football Regulator has backstop powers to impose a settlement if agreement remains elusive.
While the European football market grew by 13 percent to €40.2 billion (£34.3 billion) in 2024-25, aligning with UEFA’s expanded men’s club competitions, Deloitte expects revenue to plateau and possibly fall in the years ahead. Bridge cautioned against simply adding more matches to an already congested calendar as a cure. He warned that while the expansion of UEFA and FIFA competitions has delivered financial benefits to Europe’s “big five” leagues, football cannot rely on endless content growth for sustainable development. A saturated market may not help players or fans, especially if it degrades the on-pitch spectacle. He warned that pursuing short-term gains without a collaborative mindset among all rights-holders could weaken long-term prospects for better returns, and could harm the sport’s broader appeal.