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Premier League clubs made collective profit in 2013/14 season

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Premier League clubs are collectively in profit for the first time in 15 years, a report from consulting firm Deloitte has revealed.

Combined pre-tax profit for all 20 Premier League clubs during the 2013/2014 season was £190m.

The figures released by Deloitte also show that wages - which used to be a huge part of clubs' spending - have grown by six per cent in a year from £1.8bn to £1.9bn, an increase lower than had been expected.

Clubs also had a combined operating profit of £620m in 2013/2014 - more than three times the previous record of £185m in 2007/2008 - and total revenues continued to rise, from £2.5bn to £3.3bn.

And Deloitte believe the figures herald a new era of profitability for Premier League clubs against a backdrop of cost-cutting measures and increased broadcasting revenue.

Revenue v Wages
Image: Wages rose at a slower rate than previously in 2013/14

"Financial Fair Play has definitely played a key part," Alan Switzer of Deloitte's Sports Business Group told Sky Sports News HQ. 

"It's important to note that's for clubs wanting to play in European competition, but on top of that the Premier League has also introduced cost-control regulations, so they've had a part to play for all the clubs in the Premier League.

"We certainly don't expect to see a return to the significant losses we've seen over the last decade. At an operating level, so that's before player trading, all but one of the clubs made a profit, so that's a huge turnaround from what we've seen.

"It's filtering all the way through and the huge size of the Premier League now, the advantage they have over their European rivals, means it's perfectly possible for all those clubs to operate profitably."

Wages to revenue ratio
Image: Wages took up a lower percentage of clubs' revenue in 2013/14

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