English football's money-spinning nature broke new ground in the 2014-15 season, as £4billion was generated by the 92 League clubs, it has been revealed.

Led by the Premier League's ever-increasing television deals, which helped top-flight clubs generate £3.3bn two seasons ago, the English game is by far the most valuable, figures released by Deloitte show.

Wages in the Premier League have also hit record levels - top-flight players earned over £2bn for the first time.

However, these figures will likely pale into comparison against those for the upcoming season, with Premier League matches set to be worth over £10million at a time as a new television deal kicks in.

Dan Jones of Deloitte said: "The pace of football's financial growth in two and a half decades is staggering.

"By half-time of the second televised Premier League game next year, more broadcast revenue will have been generated than during the whole of the First Division season 25 years ago.

"It is particularly reassuring to see that clubs are looking to spend on improving stadia and infrastructure.

"The impact of the Premier League's broadcast deal is clear to see.

"For the first time, the Premier League leads the football world in all three key revenue categories - commercial, matchday and broadcast - and this is driving sustainable profitability.

"When the enhanced new broadcast deals commence in the 2016-17 season, operating profits could rise as high as £1billion."

Deloitte's study showed that the combined revenues of Europe's 'top five' divisions - the Premier League, Bundesliga, La Liga, Serie A and Ligue 1 - were at record levels in 2014-15 at an eye-watering £9.2bn (€12bn) - with the second-highest revenues of the Bundesliga coming in a whopping £1.5bn (€2bn) below England's top flight.