LONDON - The big five European leagues generated a record €14.7bn (£12.6bn) in revenue in 2016-17, a 9% annual increase, according to new figures from Deloitte.
It says the European football market is now worth some €25.5bn (£21.9bn).
The English Premier League was the market leader, with record revenue of £4.5bn, as each of the 20 clubs set their own annual revenue record.
In revenue terms, the Premier League is 86% larger than its nearest competitor, Spain's La Liga.
Deloitte said the financial results of the 2016-17 football season reflected a new era of improved profitability and financial stability for European football clubs.
It said the Premier League had benefited from the impact of its record broadcasting deals, as well as from operating in a regulated business environment, via Uefa Financial Fair Play regulations and the league's own cost control measures.
"Just a decade ago, 60% of Premier League clubs were making an operating loss, whereas in the 2016-17 season, all clubs were profitable," said Dan Jones, head of Deloitte's sport business group.
"In addition, and for the first time ever, Premier League clubs' revenues have grown at a faster rate than wages over a 10-year period."
He said that although the sale of the Premier League's domestic TV rights for the 2019-20 to 2021-22 seasons did not deliver the expected financial increase, this should not be a cause for concern.
"The fact that the Premier League has once again shown its resilience and strength by retaining the vast majority of its audience and value has provided market leading financial security to clubs for at least the next four years, providing they are not relegated," Mr Jones added.
"Indeed, once the sales process for the remaining international rights is completed, we expect the league will have delivered overall increases in television revenue." (FA)
