England's Premier League revenues near $3.15B

England's Premier League has seen its profits grow by 26% during the 2007/08 season to nearly $3.15B (£2b), a report on football finances says. According to Deloitte's annual review of football finance, 11 of the 20 top English league clubs made an operating profit in 2007/08, up from eight a year before, despite the current financial crisis. The strong revenue growth surpasses the considerable salary growth in football clubs, which increased by 23% to £1.2B, the biggest annual growth in absolute terms registered by the Premier League. Based on figures from the 2007-08 season, the report suggests that the collective wages of England's 20 biggest clubs have increased by £227M (23%) to £1.2B. "In the season that has just finished [2008/09] we think the growth is going to be a little bit lower, but it is going to get clubs up to that magical £2b mark -- which is a remarkable achievement, an average of £100m a club in the Premier League," the report says. Alan Switzer, a director at Deloitte, said: "Lower revenue growth in forthcoming seasons means clubs will have to focus on improving cost control -- both wages and other operating costs -- if profits are to be maintained."