The richest league ended in the red – even before the crisis

The numbers speak clearly. Although 14 teams in the world's wealthiest football league, the English Premier League, ended the season in profit and together generated a pre-tax profit of £285.1 million, it wasn't enough to offset the losses of six clubs that recorded a combined loss of £350.9 million. These figures, published by Inside World Football, are from the 2018/2019 season—meaning before the coronavirus pandemic and during economically strong times. So, is the Premier League facing a dark future in the coming years?

Only part of the puzzle
"This is an important indicator, but it must be supplemented with additional tables and data. The key is the so-called revenue index. When comparing income, we can still see continuous growth across the sector, even for clubs that ended in the red," said sports analyst and football agent Jozef Tokos for Economic Daily.

In practice, this means that despite its relevance, this is only one piece of the larger puzzle, which should be evaluated through a range of indicators, especially in the long term. At the very bottom of the list was the traditional club Everton FC. Tokos has direct experience with the Liverpool club—he helped finalize the transfer of Slovak goalkeeper Ján Mucha to Everton in 2010.

"Everton has long been a stable club, and financial issues were never a topic in the past. The final financial result in a given fiscal year is significantly influenced by a team’s transfer policy," Tokos added. Everton reported a loss of nearly £112 million, with £71.15 million spent on new players that season alone.

On the other hand, a significant one-year loss can simply represent a major loan or investment for large foreign clubs. Still, one figure worth mentioning is Chelsea's. The club owned by Russian oligarch Roman Abramovich came second-to-last, with a loss of £101.8 million.

The future will be different
After the pandemic subsides, sports organizations around the world, including professional English clubs, will undoubtedly face hard times. The results for the pandemic-affected 2019/2020 season are expected to be even worse. Interim numbers were already alarming. As a result, talks about future broadcasting contracts are now front and center. The Premier League remains the most-watched and best-funded football league globally.

Along with Germany's Bundesliga, the Premier League is expected to be less affected than the two major southern leagues—Italy’s Serie A and Spain’s La Liga. Anglo-Saxon leagues have long been financially healthier, which is why they are expected to recover faster from the pandemic’s economic impact.

Spurs on top
As for the winners of the latest ranking, another London club topped the list—Tottenham Hotspur, also known as Spurs. The team, led by Portuguese coach José Mourinho, recorded a profit of £87.4 million, significantly ahead of second-placed Liverpool, which made a profit of "only" £42 million.

Both teams' positive figures were undoubtedly helped by their appearance in the previous season's Champions League final. In addition, Spurs benefited from their new, ultra-modern stadium.

Tokos also highlighted another important factor at Tottenham: "They have a stricter wage policy compared to competing clubs. And wages are the biggest cost item for football teams," he concluded. The Premier League is set to restart on Wednesday, June 17, with nine rounds remaining until the end of the season.