The Premier League saw turnover drop by nine per cent and there was a reduction in payments to clubs in the fall-out from the Covid-19 pandemic, accounts for 2019-20 have revealed.
The figures up to July 31, 2020 were published at Companies House on Thursday.
The period covered is for the first of a three-year cycle of broadcasting and other commercial rights contracts.
The company's strategic report noted underlying turnover had fallen by nine per cent which was "largely due to the rebates payable to broadcasters following a suspension of play during the season" because of the coronavirus pandemic.
Football was paused between March and June 2020, with Project Restart eventually seeing the Premier League season completed behind closed doors, which will also have impacted on club matchday revenues.
The 'cost of sales' was reported to have dropped by 10 per cent as a result of reduced fee payments to clubs.
Total turnover was £2.884billion, down from the 2019 figure of £3.297bn.
International broadcasting revenue brought in £1.352bn, a decrease from the 2019 figure of £1.398bn.
The Premier League gave £10.3m to the Football Foundation, a reduction of £7m, while the PFA received £23m, with parachute and solidarity payments to the EFL accounting for £111m, which saw an increase of around £1m.
The accounts revealed payments of Government grants of £3.3m but the Premier League stated it "did not place any employees on furlough" and also did not take any other "opt-in government support" offered in response to the pandemic.
Following an interim spell, Richard Masters was confirmed as the Premier League's new chief executive during November 2019, filling the role which had been held for many years by Richard Scudamore.
The 2019-20 accounts shows the highest paid director earned £1.295m, down from the previous figure of £3.59m.
During December 2020, the Premier League confirmed a £50m Covid-19 financial support package for EFL clubs, with a grant of £30m and £20m of monitored loans for League One and League Two teams.
There was also an agreement to fund the interest and fees, up to a cap of £15m, associated with the EFL securing a three-year commercial loan facility in respect of Championship clubs.
These, though, will not impact the 2019-20 published accounts.
It was also noted a "certain litigation" had since commenced against the company with regards to a "club-related" issue, which would be reference to the proposed £350m takeover of Newcastle by Saudi Arabia's Public Investment Fund (PIF), PCP Capital Partners and Reuben Brothers.
The Premier League, though, said it does not consider "any liability" in relation to the matter.