The report says that, in some cases, close to 80% of club revenue now comes from broadcasting and global sponsorship, compared with a far more ticket-dependent model five decades ago. The Premier League’s international rights are reported to have risen from about £500m in 2010 to more than £2.2bn annually. That commercial pull is no longer confined to Europe.
Saudi Arabian clubs reportedly spent nearly $1bn in one transfer window, while MLS draws an average above 21,000 spectators per match, the report says. Women’s football is another growth market: worldwide revenues are put at roughly $800m, and average NWSL franchise valuations have nearly tripled since 2023.
Expansion does not mean equality. The report says the 20 highest-revenue European clubs collectively exceed €11bn annually, while only about half of clubs in Europe’s top divisions are profitable. In the Premier League’s 2022-23 season, wages and transfer costs reportedly consumed close to 90% of league revenue, with eight clubs spending more on players than they generated.
The report says UEFA has adopted a 70% squad-cost limit, but relegation can reportedly cost a club more than two-thirds of its annual income. That creates pressure to spend aggressively before financial failure becomes competitive failure.
The report also notes that the Champions League has expanded from 32 to 36 clubs, while many elite players already exceed 60 matches in seasons containing major international tournaments; some reportedly pass 70. Revenue can grow only if the players are available to deliver the product.
The next test will be the 2026 World Cup and the season around it. Governing bodies, clubs and player unions must decide whether expansion means smarter scheduling-or simply asking footballers to absorb the cost of a larger business.