European football Premier League club revenues rose by 7% compared to 2020-2021 ($6.96 billion) in the 2021-22 season as European football capitalized on fans returning to stadiums after the COVID-19 pandemic, according to analysis from Deloitte, a financial auditing firm. In its Annual Review of Football Finance, Deloitte's Sports Business Group said the "big five" leagues in England, Spain, Germany, Italy, and France had a combined 10% rise in revenues - with Spain's LaLiga rising 11% to 3.3 billion euros ($3.57 billion) while France's Ligue 1 shot up 26% to 2 billion euros. Italy's Serie A was the only league of the five to record a decrease in revenue, falling 7% to 2.4 billion euros. Matchday revenue for the Premier League rose to 763 million pounds in 2021-22, far surpassing the 2020-21 season, large portions of which were played behind closed doors, as well as improving on pre-pandemic levels of 684 million euros in the 2018-19 season. Despite rising revenues, operating profits in the big five leagues have declined by 1.8 billion euros since the 2018-19 season, thanks in part due to a 15% rise in wage costs. Clubs will have to adjust wage costs in the future to adhere to UEFA's new "sustainability regulations", which were passed in 2022 and limit teams to spending no more than 70% of their revenue on their squads. The regulations came into force in 2022. The 70% figure will be reached after a three-year transition period, gradually falling from 90%. In England, the combined net debt in the top flight decreased by 34% to 2.7 billion pounds in 2021-22 following the takeovers of Chelsea and Newcastle United. Net debt also declined by 110 million pounds in the second-tier Championship, but wage costs exceeded revenues for the fifth straight year. The English Premier League was, as usual, the league that generated the most revenue: €6.4 billion in 2021-2022 (+12% in one year), followed by La Liga (€3.3 billion, +5%). But English club wage costs outstripped revenue for the year. Fifth in a row with a wage/earnings ratio of 108%. “These figures show that European football has emerged resilient from the most difficult period in its history,” said Tim Bridge, Head of Sports Business at Deloitte. "And with operating profit down by €1.8 billion since 2018-2019, it is clear that this global recovery still needs to be confirmed," he added.