English Premier League TV rights to break £5bn barrier
The global appeal of teams such as Manchester United and Chelsea has catapulted the value of the Premier League TV rights, as it on the verge of breaking the five billion pound barrier for the first time ever.
Premier League clubs are in line for a huge hike in television income from next season, with revenue from domestic and global TV rights deals on course to top five billion pounds by the time the final overseas contracts are tied up next month, the Guardian reports.
On top of the blockbuster 3.018 billion pound deal announced in June for domestic live rights with Sky and BT for the three seasons from 2013-14, and the 178 million pounds banked from the BBC for Match of the Day highlights, the Premier League is well on course to improve on the 1.4 billion pound it brought in from overseas broadcasters under the current deal.
If the total revenue breaks through the five billion pound barrier as expected, the amount that the title-winning club receives from 2013-14 is likely to top 100 million pound for the first time.
Premier League clubs will be updated on the latest deals to be signed at a meeting this week, when they will also discuss proposals to try to introduce a domestic version of UEFA's Financial Fair Play policy or other cost-control measures such as a restriction on wage growth.
The hike in income will be cheered by clubs trying to balance their budgets to comply with UEFA's Financial Fair Play rules and looking to exploit their commercial potential around the world, but will also increase fears that it will simply be passed on to players in the form of increased wages. (ANI)