English Premier League's clubs have recorded the first combined pre-tax profit for 15 years thanks to the soaring value of television deals and a slowdown in players' salaries. While on-field performances of England's top teams against Europe's elite have regressed in the Champions League and Europa League, their bank accounts are bulging, according to business advisory firm Deloitte. In 2013-14, Premier League clubs generated a combined pre-tax profit of 190 million pounds ($283.21 million) -- four times greater than the previous record of 49 million in 1997-98. The figures are in sharp contrast to the previous decade when Premier League clubs accumulated combined pre-tax losses of 2.6 billion pounds.
Wednesday, 25 March 2015
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