RESOLVING THE LEDGER
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With a top-eight finish offering at least a playoff place, the temptation to spend big in pursuit of the Premier League will grow – but so will the risks
The Championship’s collective wage bill grew to a record £903m in 2024-25, according to Deloitte’s latest Annual Review of Football Finance. Clubs are paying players enormous sums in their pursuit of Premier League football. With the playoffs expanding this season , the number of owners willing to risk even more money in the hope of securing promotion is only likely to increase.
In isolation, the figure of £903m does not signify much. Compared to the Premier League’s £4.4bn salary outlay, it almost looks small. But England’s top division can afford that gargantuan commitment to wages whereas the second tier cannot. The 24 clubs in the Championship earned £942m, meaning salaries consumed 96% of revenue. If there was any surprise in their collective net debt being £1.4bn at the end of 2024-25, it was only that it had reduced from the £1.5bn it was a year earlier.
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