Burnley are the seventh-most valuable club in the Premier League according to a new study into football finances, with the Clarets described as the "most sensibly run club" financially in the division.
With Manchester City, valued at £2.364bn (up £385m), having overtaken cross-city rivals Manchester United, valued at £2.087bn (a fall of £376m blamed on "higher wages and lower profit"), as the Premier League's most valuable club, the entire worth of all 20 clubs stands at a staggering £14.7bn according to a study by the University of Liverpool's Centre for Sports Business Group.
The Clarets, valued at around £370m, are ranked as the league's seventh-most valuable club for the 2017/18 season behind the two Manchester clubs, Spurs, Liverpool, Chelsea, and Arsenal, with the top six accounting for a shade under 75% of the total combined league's value. Despite being just one place behind Arsenal in sixth, Burnley are worth around £1bn less than their North London compatriots.
Analysing a range of factors including account revenue, profits, non-recurring costs, average profits on player sales over a three-year period, net assets, wage control, and proportion of seats sold for matches, the report aims to provide as in-depth a snapshot of Premier League clubs' values as possible without focusing solely on turnover as other reports do.
For example, despite Manchester United boasting a higher revenue (£590m) than Manchester City (£500m), City's lower wages, the fact that they made £39m in profit from player sales, and their ownership model - there are no loan interest costs and no dividends paid to shareholders - mean they come out as the most valuable club.
Other key points from the report include the fact that Spurs have the lowest wage/revenue percentage in the division at 39% and Palace's is the highest at 78%, Huddersfield have the lowest wage bill at £63m and United have the highest at £296m, and that Chelsea have the highest annual matchday income per fan at £1,791 while Huddersfield make just £201.