Palace Report £23million Profit

Palace reported today that it made a profit of £23million last season, the club’s first one back in the top flight. The year prior in the Championship, the club only made £3.5 in profit after only posting £14.5million in total turnover. This past season that turnover rose to £90.4million with broadcasting income allotting to £74.1million of the total turnover.

Last season marked the first of three in a new record £3billion TV rights deal that will soon be outdone by the almost £6billion one that will begin in the 2016-2017 season. In fact, the television revenue alone is helping to only widen the gap between the Premier League and the Championship, so much so that the parachute payments clubs receive over a 3 year period after relegation is not helping them stave off financial insolvency.

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