Premier League clubs post nearly $1 billion in losses amid spending 'arms race'
Despite unmatched revenue power, Premier League clubs posted nearly $1 billion in collective losses last season as spending to chase success outweighed financial caution.
The Premier League remains the envy of the world for its revenue-generating power, yet clubs collectively lost nearly $1 billion last season. The losses reflect an "arms race" in spending where the pursuit of on-field success trumped financial security.