Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

Levy
FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Premier League Clubs To Share £1bn Of TV Money

Fri 27th Mar 2015 | Money & Finance

At least £1 billion of live rights income to be shared outside of the Premier League from 2016/17 – 2018/19.

The pledge follows a meeting of Premier League club chairmen in London yesterday and will see the money filter down to fund facilities, participation and match-attending fans amongst five key areas.

Significantly, clubs have also pledged to pay all full-time staff the ‘Living Wage’.

In their first meeting since the new TV deal was announced, the clubs agreed that the long-standing policy of sharing the Premier League’s success with a wide range of beneficiaries should continue,

However, it was noted the continuing uncertainty about revenues as a result of the regulatory challenge from Ofcom and the fact that international sales have not yet begun.

Subject to a satisfactory outcome from the regulatory process and international sales, clubs have agreed that a total of at least £1bn from the sale of UK live rights will be shared beyond the Premier League in the 2016/17-2018/19 period.

The sum is unprecedented in world sport and will include a wide range of beneficiaries with five priority areas for investment, in addition to the contractual commitment to provide parachute payments to relegated clubs, being agreed.

These are:

Grassroots facilities

Participation – sporting and educational development of young people

Fan engagement and matchday experience

Solidarity with lower leagues

Supporting disadvantaged groups

Premier League Chief Executive, Richard Scudamore, said: “The clubs have always stepped up to the plate when it comes to sharing their success. They appreciate that the development of the Premier League is contingent to a high degree on continued high levels of passionate support and a vibrant football pyramid.

“These are unprecedented levels of redistribution in world sport, let alone football, which will deliver long-term progress for English football whether you are a fan, lower league club or involved in the grassroots.

“Clearly this package is dependent on the outcome of our international live rights and the ongoing Ofcom investigation, so the detail won’t be known until later this year or in early 2016.

“The clubs also committed to adopting the Living Wage for all their full-time employees by the start of the 2016/17 season at the latest.

“All this demonstrates once again that a good result for the Premier League is good for the rest of the game and beyond.”

The Football Supporters Federation, whose ‘Share the Wealth’ demonstration took place outside the hotel where the meeting took place, welcomed the news in a statement on their website reading:

We look forward to continued dialogue between fans, clubs and the Premier League as to how this money is spent. Supporters must be at the heart of the decision making process; every club’s fan base has different needs, and addressing these requires proper dialogue.

Additionally, we welcome the news that the Premier League is to become a Living Wage employer and that its clubs will be required to do likewise.

The living wage makes a real difference to people’s lives and, earlier this year, we became the first national football organisation to become an accredited Living Wage employer. It’s something we are very proud of.

Posted by: Aaron Gourley

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk

To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Manchester United & City Donate £1m To Emergency Fund

Thu 25th May 2017 | Money & Finance

Manchester’s two Premier League clubs combine to support the city’s fundraising efforts with a £1m donation pledged to the We Love Manchester Emergency Fund set up in the wake of...

Biggest Prize In Football Gets Bigger For Royals and Terriers

Thu 25th May 2017 | Money & Finance

Huddersfield Town and Reading will battle it out for what is considered the most valuable match in world football at Wembley on Monday 29 th May. Promotion to the Premier League for either club will...

3 Observations From Clubs’ Online Merchandise Stores

Wed 24th May 2017 | Money & Finance

Football clubs and their online merchandise stores have been on DiscountIF ’s radar for some time now. After a few sit downs and calls with clubs in the Premier League, Championship and the two...

The DiscountIF Football Merchandise League

Wed 17th May 2017 | Money & Finance

Manchester United. Real Madrid. Arsenal. These are football clubs first and foremost, but they are also some of the most recognised brands around the world. Football clubs are following others...