Premiership regains place as world

CHAMPIONS Manchester United yesterday set the trend for Premier League football clubs after announcing a lucrative shirt deal on the day when record-high revenue figures were announced.

The Old Trafford club agreed to a four-year sponsorship deal with insurance giant Aon Corporation, replacing that of troubled AIG, which was bailed out by the US government. Terms weren’t disclosed but the deal is expected to exceed the £14m-a-year AIG paid in 2006.

The news came on the day when Premier League clubs continued to defy the credit crunch with revenues soaring to a record £1,932m in 2007-08.

According to the latest Annual Review of Football Finance from the Sport Business Group of business advisers Deloitte, the figure is up 26 per cent on 2006-07 – and is expected to top £2bn in the season just played.

The report also showed the Premier League has regained its status as the world’s most profitable league from the German Bundesliga with clubs generating £185m in operating profits.

With that, however, comes an increase in wage costs, which rose by £227m to top £1.2m for the first time.