Who does not want to be in the Premier League? It is the most prestigious league in the world. It has a huge fan base, so getting on the stage of success is a great goal for any team. The main problem is finances; this is the biggest hurdle that teams face. So, what is the latest news on the Premier League’s future and how can it help a team gain enough revenue to stay in the competition?
The latest news is that talks between the EPL’s top clubs have begun. It is believed that the first meeting of the year will take place in January. It is expected that the talks will continue until summer, as there is still a lot of flux regarding the Premier League’s future format. It is estimated that there will be four conferences, with the leaders from each getting three matches each; the bottom two will get one match each.
With the current format in place, the EPL has barely made ends meet financially. It needs more time and patience from the stakeholders, especially the owners of the Premier League, to sort out the problems that they are experiencing with the current Premier League. The main causes of the ongoing financial crisis are lack of television coverage and poor marketing strategies. The chief executive of the EPL, Football Premier League or the F.P.L., Mark Whitten, has hinted that there are some “reasons to expect” for a potential move away from the current premier league.
Another reason to expect a move away from the EPL is the dwindling value unreported by the main sponsor, sponsors, and broadcast media. The value of the Premier League has gradually dropped in recent years. The main sponsor, AIG, is no longer a major contributor to the league. Their financial support is slowly being replaced by other financial sponsors. TV coverage and marketing are also in danger of drying up.
Last but not least, the players’ wages and the player compensation package are another cause to expect a decline in the popularity of the EPL. Players have been demanding for greater pay scale and greater benefits for the past several years now. These concerns are shared by the club owners. Reports have indicated that the Premier League’s governing body, the Football Associations, is in talks with the players’ union to solve these issues. Whether these efforts will be effective or not is unknown.
The future of the EPL is currently in flux. There are various reasons why the EPL is facing the challenges it is facing, mostly because of its lack of participation in the global market. The players’ wages and the TV contracts are the most significant issues that affect the popularity of the league, but the lack of profit is the biggest factor that will affect the club’s ability to continue with its commitment to the EPL.