EPL clubs spent whopping two-third on players’ wages in 2011-12
London: According to the recently published financial accounts of the 20 Premier League (PL) clubs, more than two-thirds of their record 2.4 billion-pound income in 2011-12 had been spent on the wages of their players.
According to the Guardian, a report of the finances of the PL clubs of last season has shown that they had spent 1.6 billion pounds on wages, of which a large amount went to the players.
According to the report, the wage bill accounted for 67 percent of the turnover of the clubs similar to the records of 2009-10 and the 2010-11 periods, adding that the clubs have spent a whopping 4.5 billion dollars on wages over the past three years.
The report further said that accounts have shown that the clubs are becoming better run financially, as can be seen in the records of Manchester City, who reduced their record loss of 197 million pounds in 2011 to 99 million pounds last year.
According to the report, City’s Carlos Tevez is believed to be paid around 198,000 pounds-a week, out of the club`s wage bill of 202 million pounds, which is the highest among all the other PL clubs.
The report also said that players` wages have increased since 1992 along with the growth in television income and the rise in ticket prices, adding that the huge sums paid out lie behind the clubs` decision to limit wage increases when the next TV deal, a projected record 5.5 billion pounds, begins in 2013-16.
However, the report said that compared to players, other employees of the clubs, especially caterers, cleaners, warehouse staff, are paid a measly 5.52 pounds per hour, although the mayor of London Boris Johnson has urged London clubs to increase that to a ‘living wage’.