English Premier League clubs paid out a record €2 billion in player wages last year.

According Deloitte's Annual Review of Football Finance the Premier League wage bill exceed that of its nearest rival, Italy's Serie A, by €870m or 74%.

English teams, however, paid out a lower percentage of their revenue - 70% - in wages than any of the other top leagues in Europe. Revenue generated by Premier League clubs rose by 4% to £2.3 billion and is set to increase substantially in the coming season on the back of a £5.5 billion TV rights deal.

Premier League revenue was almost €1 billion higher than that generated in the second wealthiest league, the German Bundesliga, according to Deloitte. The euro comparison slighly flatters the English league, however, as the figures were compiled using the exchange rate prevailing in June 2012 when sterling was around 6% higher against the euro than it is now.

Although they are a distant second in the revenue table, German teams lead the way in terms of operating profit. Bundesliga teams recorded an aggregate operating profit of €190m compared to just €40m in the Premier League.