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Premier League Clubs Made Record £3.4B Last Year, Newspaper's Analysis Finds

Premier League clubs "generated a record income" of almost £3.4B last year, with 14 of the 20 clubs making a profit, "the Guardian’s analysis of their most recently published accounts has revealed," according to David Conn of the London GUARDIAN. The improvement in the clubs’ finances, "after years of paying too much to players in wages and making losses" despite the EPL’s "huge" TV rights and other income, "is the result of clubs having finally agreed to introduce financial fair play regulations" in '13. The regulations, which restrict clubs’ losses to £35M ($51M) a year if bankrolled by an owner and "cap the amount of new TV income permitted to be spent on players’ wages, immediately transformed clubs’ balance sheets." In the final season before FFP was introduced, 12 of the 20 clubs made a loss, and the "world’s richest football league" recorded a total overall loss of £291M. The financial regulations have been renewed for the next three-year period, '16-19, covering new TV deals that are expected to exceed £8B ($11.7B). The 60% figure for spending on wages, "although still huge for players fortunate to be playing in football’s pay-TV boom era," is "significantly down on the excessive spending of previous years." FFP rules, which enable clubs to "make sizable profits and owners to reap dividends or capital gains," have been cited by buyers of English clubs, particularly from the U.S., as a "key attraction for them to invest." The restriction on players’ wages, losses and owner investment, "which have instantly made most clubs profitable, is resulting in more clubs now being taken over" (GUARDIAN, 5/25).

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