Premier League clubs saw their combined pre-tax losses rise dramatically to £948 million in the 2024-25 season, up more than 600% from £135 million the previous season [1, 2, 3]. The surge was mainly driven by increased transfer spending and a lack of significant profits from one-off player sales [1, 2, 3].
Net debt across Premier League clubs also increased slightly to £3.6 billion, compared to £3.5 billion in 2023-24 [1, 2, 3]. Meanwhile, Championship clubs reported a 12% rise in combined pre-tax losses to £355 million, with only three clubs turning a pre-tax profit [1, 2, 3]. The Championship’s revenue declined 2% to £942 million, while Premier League revenue reached £6.8 billion in 2024-25 [1, 2].
Discussions to create a more equitable split of television revenue between the Premier League and the English Football League (EFL) have stalled since 2024 [1, 2, 3]. The Independent Football Regulator retains powers to impose a settlement if a deal cannot be reached [1, 2, 3].
The European football market grew by 6% to €40.2 billion (£34.3-34.4 billion) in 2024-25, coinciding with the launch of UEFA’s expanded men’s club competitions [1, 3]. However, Tim Bridge, lead partner in the Deloitte Sports Business Group, warned that adding more fixtures to the already crowded calendar "is not a sustainable way to increase football revenues" [1, 2, 3].
Bridge highlighted the ongoing need for external funding across English football, saying, "The cumulative financial position and worsening club losses across all three English Football League divisions underline a continuing trend; one where external funding is now critical to liquidity in the vast majority of cases" [2]. He also stressed that "upcoming regulatory changes could support future improvements, but the focus must now shift to stronger commercialisation and sustainable growth, or a plan to bridge the gap to the Premier League to unlock the huge amount of value within football at all levels" [1].
The next key development is whether talks over television revenue sharing between the Premier League and EFL will resume, as the Independent Football Regulator could impose terms if no agreement is reached.
