UEFA Champs Chelsea had the largest salary payouts last year, at £191 million
A report on the English Premiership’s finances in the 2010-2011 season published by Deloitte offers some good news and bad news to English footballs bookkeepers. While the top clubs managed to slash their debt by 13% last June, their salary spending has skyrocketed 14% to a total of £1,6 billion.
According to the Deloitte report, clubs in England’s top league payed over 70% of their revenues over in salaries. Manchester United spent 46% of their budget on pay, while derby rivals Manchester City spent 114% of their budget on pay. UEFA champs Chelsea had the highest salary pay out at £191 million.
The surge in salary spending was located primarily in the season’s top six clubs, which accounted for £145 million of the £201 million increase on the previous season. According to the report, wage control “”continues to be football’s greatest commercial challenge”.
The main locus of debt cutting in the 2010-2011 season, behind the 13% drop, was two clubs debt cutting procedures primarily, Manchester United and Liverpool FC.
Overall revenues from the 2010-2011 Premiership reached record levels of £2.27 billion.
