Football - Newcastle United v Southampton - Barclays Premier League - St James' Park - 15/16 - 9/8/15 General view of the match day ball Action Images via Reuters / Lee Smith
(Reuters) - The aggregate pre-tax profits of English Premier League clubs fell nearly 37 percent last season due to a spike in wages, according to Deloitte.
Pre-tax profits for the 2014-15 season went down to around 120 million pounds ($169.82 million) from 190 million pounds in 2013-14, Deloitte said, as wage costs rose six percent to a record two billion pounds.
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