2018年-德勤全球_Annual_Review_of_Football_Finance_2018_36页_4mb

2018 Deloitte Annual Review of Football Finance Summary

Core Content

The 2018 Deloitte Annual Review of Football Finance highlights the financial transformation of European football, with a particular focus on the English Premier League (EPL) and its position as the market leader. The report outlines the financial success and sustainability of football clubs across different tiers and leagues, and discusses the broader implications for the sport's business model and future growth.

Main Points

Premier League Financial Success

• Record Revenue: The EPL generated a record £4.5 billion in revenue during the 2016/17 season, with all 20 clubs setting new annual revenue records.
• Profitability: No clubs reported an operating loss, and only one had a wages/revenue ratio exceeding the UEFA guideline of 70%.
• Sustainability: The EPL's financial stability and profitability are now seen as the norm, driven by effective financial regulations, cost control measures, and a strong broadcasting model.
• Broadcasting Rights: The revenue growth is primarily due to the increase in broadcasting rights values, with the EPL's domestic rights selling process for 2019/20 – 2021/22 expected to not deliver the same level of uplift as previous cycles.
• Competitiveness: Despite the dominance of the "big six" clubs, the competition remains fierce and unpredictable, which is a key draw for broadcasters and commercial partners.

Football League and Championship

• Championship Clubs: Clubs in the Championship are still financially stretched, with record operating losses and high wages to revenue ratios, partly due to the desire to promote to the Premier League.
• Parachute Payments: There is a growing disparity between Premier League clubs and Championship clubs in terms of parachute payments, which may affect future competitive balance.
• Positive Trends: The Football League has seen financial growth, with League 1 and League 2 clubs collectively being the largest at their level globally, demonstrating the positive impact of financial regulations.

European Football Landscape

• Market Growth: Total European football market revenue reached €25.5 billion in 2016/17, a 4% increase from the previous year.
• Big Five Leagues: The 'big five' leagues (Premier League, La Liga, Bundesliga, Serie A, Ligue 1) collectively grew revenue by €1.3 billion (9%), driven by broadcasting rights.
• Financial Health: European football's financial position is healthier than in years past, attributed to the global popularity of the sport and strong regulatory frameworks.

UEFA Distributions and Revenue Trends

• UEFA Distributions: Distributions to clubs for UEFA competitions increased by 3% to over €1.8 billion, with the 'big five' leagues receiving 67% of the total.
• Broadcasting Rights: The 2018/19 UEFA broadcast rights cycle aims for a 30% revenue increase, with changes to the format intended to attract more broadcast interest.
• Revenue Gap: The EPL continues to lead in revenue, with the gap between it and other leagues widening, particularly over Ligue 1.

Country-Specific Insights

• England: The EPL's three-year broadcasting cycle ensures its continued dominance, with Premier League clubs paying significantly more in wages than their counterparts in other leagues.
• Germany: Bundesliga clubs are expected to return to second place in revenue generation, supported by strong commercial performance and new broadcasting deals.
• Spain: La Liga's collective rights sales model has driven significant revenue growth, with the league overtaking the Bundesliga in revenue and becoming the second-highest globally.
• Italy: Serie A's revenue and wage costs are expected to grow, with the league benefiting from new UEFA deals and the introduction of DBR technology.
• France: Ligue 1's revenue growth is slower compared to other leagues, but the new broadcasting rights cycle with Mediapro is expected to provide more stability and growth.

Key Information

• Deloitte Football Intelligence Tool: A comprehensive data tool with over 8,000 data items, offering detailed financial insights for the football industry.
• Databook: A 32-page publication available for purchase at £1,000, containing extensive financial data and analysis.
• Community Impact: The Premier League supports not only its 20 clubs but also 72 Football League and 68 National League clubs in community programs.
• Financial Regulations: UEFA Financial Fair Play and the Premier League's cost control measures have played a crucial role in enhancing financial stability and sustainability across European football.
• Future Outlook: The report suggests that the financial maturity of the football industry is on the rise, with a focus on innovation, global expansion, and the development of new revenue streams.

Conclusion

The 2016/17 season marked a turning point for the financial sustainability of Premier League clubs, and the report suggests that this trend is likely to continue. The financial success of the EPL and other major leagues has been supported by effective broadcasting models, financial regulations, and strategic investments. As the football industry evolves, the focus on profitability, community engagement, and global reach is expected to shape its future.