As the Premier League returns to the black, Crystal Palace are the latest club to report a profit. They have managed to achieve 25 per cent pre-tax profits, £23m on turnover of £93.4m. They achieved a good profit in percentage terms in their last year in the Championship, £3.5m on a much smaller turnover of £14.5m or 24 per cent.
Their case illustrates how much the smaller clubs in the Premier League rely on broadcasting revenue which accounts for 81 per cent of their turnover.
As the Premier League returns to the black, Crystal Palace are the latest club to report a profit. They have managed to achieve 25 per cent pre-tax profits, £23m on turnover of £93.4m. They achieved a good profit in percentage terms in their last year in the Championship, £3.5m on a much smaller turnover of £14.5m or 24 per cent.
Their case illustrates how much the smaller clubs in the Premier League rely on broadcasting revenue which accounts for 81 per cent of their turnover.
Palace have been both prudently and effectively managed by their current owners, but the club needs investment in the stadium to generate other sources of revenue. The new American owners should be in place before the end of the season and will be able to provide the investment the club needs without abandoning prudent financial policies.