Overview and predictions for the “Big 5” leagues
The 2022/23 season was the first since 2018/19 in which all of Europe’s “big five” leagues ran a full season without COVID-19 restrictions.
Matchday revenues across Europe’s top five leagues – the Premier League, Bundesliga, La Liga, Serie A and Ligue 1 – have all improved, increasing by €700 million (35%) to €2.8 billion in 2022/23, an average of 14% of total club revenue. Bundesliga and Serie A clubs reported the biggest increases after pandemic-related stadium restrictions that affected part of the 2021/22 season were lifted.
The club’s total commercial income increased by €1.2 billion (19%) to €7.6 billion, driven by new and improved sponsorship deals, stadium use on non-match days and Ligue 1 clubs receiving median dividends from the league’s private equity deals.
The total revenue from broadcast rights for clubs in the “big five” leagues was €9.2 billion. As 2022/23 was the second year of the broadcast rights cycle for Serie A, Bundesliga, Ligue 1 and UEFA club competitions, there was only modest growth on the previous season (€8.9 billion), and the overall increase in value of new agreements launched in the Premier League and La Liga was relatively small.
Total club wage costs were €13 billion. The average wage/revenue ratio fell across the “big five” leagues as a large increase in total revenues (€2.3 billion) outweighed the increase in club wage costs (up €700 million). As a result, clubs in the “big five” leagues reported a total operating profit (€500 million) for the first time since 2018/19 (€1.4 billion).
Total club revenue across Europe’s ‘big five’ leagues is expected to continue to grow, reaching around €21 billion in 2024/25.
