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London - Premier League clubs' revenues hit a new record of 3.6 billion in the 2015-16 season, but top-flight teams still recorded pre-tax losses of 110 million, according to sports finance experts Deloitte.
The record revenues were nine percent higher than the previous top total of 3.4 billion posted in the 2014-15 campaign, with Manchester United and Manchester City responsible for more than half of the rise.
United's revenue grew to 515 million, which saw them top the Deloitte Football Money League for the first time since 2003-04 as the world's highest revenue-generating club
Increased wage costs, up by 12% to 2.3 billion, were the main factor in the combined losses of England's 20 elite clubs.
It is the first time Premier League teams have posted an aggregate pre-tax loss since the 2012-13 season.
Dan Jones, partner and head of the Sports Business Group at Deloitte, said: "The 2015-16 season saw Premier League clubs grow revenues by almost 10% to 3.6bn, with the two Manchester clubs alone responsible for more than 50% of the increase.
"Manchester United's participation in the 2015/16 UEFA Champions League, coupled with continued strong commercial revenue growth, resulted in a 30% increase in revenue to 515m.
"Our analysis reveals a return to pre-tax losses, following two consecutive years of pre-tax profits.
"However, it is worth noting that this is due to a small number of one-off 'exceptional' costs, and we fully expect that the Premier League's new three-year broadcast rights deal will see a return to record levels of profitability in the 2016-17 season."
Sky and BT paid a record 5.136 billion for the latest round of TV rights, a sum 71 per cent higher than the previous deal.
