Premier League Status Worth £58m to Swansea Economy
Thu 3rd Jan 2013 | Money & Finance
Swansea City’s first season in the Barclay’s Premier League was worth £58m to the local economy, an in-depth study has revealed.
The Swans gained promotion to the Premier League in 2011, becoming the first Welsh club to do so.
An estimated 400 jobs – 340 of them in Swansea – were created or protected according to a study commissioned to look at the economic impact of Premier League status on the city and Wales.
Nick Bradley, Swansea Council’s Cabinet Member for Regeneration, said: “The Swans’ Premier League adventure has been an incredible success story for the club, for Wales and for Swansea.
“The value of the Swans success to the local economy is even greater than Chelsea’s widely-reported prize money for winning the Champions League this year.
“That’s an incredible achievement. I want to pay tribute to the joint effort between the Welsh Government, Swansea Council, their partners and, of course, the Swans for making sure the economic benefits have been felt alongside the tremendous feelgood factor that’s been generated right across the city.”
The report says that while the majority of the economic value was created directly by the football club, most of the jobs created and safeguarded were from non-footballing activity.
The most significant element of this was the spending power of visiting fans who visited pubs, clubs, restaurants and stayed in hotels as a direct result of attending games at the Liberty Stadium.
Cllr Bradley said: “This economic impact assessment has proved that the investment by the Welsh Government and Swansea Council in targeting visiting fans to encourage them to come and enjoy what Wales and Swansea has to offer has paid off.
“We believe it is continuing to pay off this season too with thousands of fans continuing to enjoy the warmth of the Welsh welcome in Swansea.”
Posted by: Aaron Gourley
If you have any football business related news stories you’d like to share then please contact us – email@example.com
Thu 16th Oct 2014 | Money & Finance
There's no more hectic, crazy, and exciting time during the football season than the summer transfer window, especially in the final couple of weeks as clubs scramble to sign new players. Within a...
Wed 15th Oct 2014 | Money & Finance
The average price of the cheapest tickets across English football has risen at almost twice the rate of the cost of living since 2011. According to the latest figures compiled in the BBC Sport Price...
Thu 9th Oct 2014 | Money & Finance
England has begun the 2014/15 football season with a £379m balance of trade deficit, the biggest transfer deficit in world football, according to new analysis from Barclays. England became the...
Mon 6th Oct 2014 | Money & Finance
Since its initial IPO two years ago, much has been made of Manchester United’s presence on the New York Stock Exchange (NYSE) . As the only Premier League club to be truly publically tradable...