Premiership Gets Richer & The Poor Get The Picture
The Premiership announced yesterday record breaking TV rights deals around the world for the 2007/2008 through 2009/2010 seasons worth 2.7 billion GBP, which is $5.3 billion. This means more money will be spread amongst all of the teams next season with the title winner collecting at least $98 million, while the bottom place team will receive around $59 million.Never before will so much money be pumped into the English Premier League. Now is the time, more than ever, that the money be spent wisely. The English game needs to invest more money into its football academies. With the massive amounts of TV money coming in, clubs should consider lowering ticket prices at matches to make them more affordable. And the money can be invested in video technology and improvements in the way the game is run to ensure progress is made on and off the pitch.While it’s tremendous news off the pitch for Premiership clubs, the financial success of the league is making the gap wider between the Premiership and the 72 clubs in the Football League. The situation reminds me of lyrics from one of my favorite songs by Australian rock band Midnight Oil in a song called “Read About It.” The opening line to the songs goes “The rich get richer, the poor get the picture, the bombs never hit you when you’re down so low.”For more insight into what the money means, read this fascinating article from The Daily Telegraph.