Astronomical transfer fees and wages in elite football has been an issue for a long time and, while they are fed to some degree by the massive sums of money flowing into the highest level of the sport, the playing field is far from level. As new analysis by Deloitte reveals, Premier League revenue machines Manchester United and Manchester City had wage costs equal to 65 and 62 percent of their income in 2020/21, respectively. The notoriously frugal Tottenham Hotspur have the figure as low as 57 percent (two years previously it was as low as 39 percent).
For the clubs trying to compete with the top teams though, the revenue simply isn't there to build and sustain a top quality squad in the current climate. Fulham, desperately trying to stay in the top flight this time round, were lumbered with wage bills set at a crippling 98 percent of their revenue the last season they were in the Premier League. Everton have thrown a huge amount of money at their footballing problems over the last few years, and their wages/revenue figure reflects how disproportionate this outlay has been to the success that has only eluded them on the pitch.
That's not to say it can't be done on a tight budget though, at least for a short period. Leicester famously became champions in 2015/16 as massive outsiders and with considerably less funds at their disposal compared to the main contenders. A look at their wage/revenue ratio though reveals how much they are still pushing the financial limits to remain as close as they can to the impossible highs of that glorious season.
