The SPFL recently agreed a new lucrative title sponsorship deal with William Hill. (SPFL)

The SPFL, the organizer of Scottish soccer’s professional leagues, has today announced record turnover for the 2023-24 fiscal year.

Across the year, the SPFL generated £44.3 million ($58 million), an increase of £2.4 million on the 2022-23 figure, which was the previous record.

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Subsequently, SPFL payments to its member clubs also increased by £2 million to a record of £33.7 million.

The body stated that this revenue increase was primarily due to increases in rights payments courtesy of the league’s TV deal with UK pay-TV giant Sky, as well as other, smaller international rights deals.

These deals have helped the SPFL to its second ever (and second consecutive) season notching over £40 million in revenue, maintaining the body’s record of securing a year-on-year increase in turnover every campaign since its inception in 2013.

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Speaking on the financial results, SPFL chief executive Neil Doncaster stated: “Given the challenging market and economic conditions right now, these encouraging results reinforce the huge popularity of Scottish football, as well as the level of interest this generates with our broadcasters and our increasing roster of partners.”

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Doncaster added that there is still room for further improvement in future years, thanks in part to the SPFL’s new record title sponsorship deal with sports betting firm 888’s William Hill brand.

That deal, running from the current 2024-25 season through the 2028-29 campaign, covers all four tiers of SPFL competition and is understood to be worth as much as £10 million, or £2 million per year, an increase of £400,000 per year on the previous deal with car dealer Cinch.

The chief executive also pointed to the league’s new domestic TV deal with Premier Sports for a 20-match package as a sign that the league’s value can still be heightened.