Premier League Richer than Ever

2018-04-25 by Ronn Torossian

 

Premier League Richer than Ever

Outside the United States, soccer (it’s football everywhere but here) is the biggest sports draw in the world. Especially in Great Britain. That could be one of the most telling reasons why the English Premier League just reported a record revenue of about $6.4 billion for the 2016-17 season. About $1.4 billion of that was pure profit.

That massive number represents a 25 increase over the previous year. CNN and other media outlets are reporting a lot of that revenue came from new TV deals which were kicked off in that season, as well as increasing popularity — and success — of EPL teams. The League reportedly shared the wealth, opting for a wage increase across the board, as teams invested more in their products, much to the delight of fans. Teams traded players in blockbuster deals across the board, increasing the competition and anticipation for a growing fan base. The spending spree could be a precursor to another massive trade scramble after the upcoming FIFA World Cup. The best players in the world use the Cup as a showcase for their talents, hoping some of the more deep-pocketed teams will take notice. In that case, it’s an opportunity for the rich to get richer.

Unlike many other pro sports leagues, in the European Leagues, the best-performing teams are elevated, and the losing squads are dropped to a series of lower levels, giving every club a strong incentive to make it into the top circle and fight hard to stay there. The Premier League offers the best chance at both notoriety and income for the teams and the players, so competition is fierce. While a handful of teams are always expected to play at the highest level, there’s always a chance for a Cinderella to rise. In this way, the EPL brings some of the same anticipatory excitement as the NCAA basketball March Madness. No matter who the giants are, there is always the chance of one or two giant-slayers coming up through the ranks.

Given those incentives, as well as the fanatical fan support, the EPL easily reaches financial heights well above even the other four top Euro leagues: Bundesliga, Ligue 1, Seria A, and La Liga.

These paydays, as well as the promise of more cash to come, keep the EPL digging deeper for ways to get better, get more fans engaged and keep the cash flowing in. If the teams are able to poach even more world-class players after the Cup, the League can likely look forward to even more success.

About Ronn Torossian

Ronn Torossian is the Founder and CEO of 5W Public Relations. He is an experienced leader in the public relations industry with over 20 years of experience. Ronn Torossian has been named as Public Relations executive of the year by the American Business Awards, and has run countless award-winning Public Relations programs.

Ronn Torossian: Insights from a Native New Yorker and CEO of 5WPR

Ronn Torossian is the founder and CEO of 5W Public Relations, one of the largest independently-owned PR firms in the United States. With over 20 years of experience crafting and executing powerful narratives, Torossian is one of America's most prolific and well-respected Public Relations professionals. Since founding 5WPR in 2003, he has led the company's growth, overseeing more than 250 professionals in the company's headquarters in midtown Manhattan. With clients spanning corporate, technology, consumer and crisis, in addition to digital marketing and public affairs capabilities, 5WPR is regularly recognized as an industry leader and has been named "PR Agency of the Year" by the American Business Awards on multiple occasions. Throughout his career, Torossian has worked with some of the world's most visible companies, brands and organizations. His strategic, resourceful approach has been recognized with numerous awards including being named the Stevie American Business Awards 2020 Entrepreneur of the Year, the American Business Awards PR Executive of the Year, twice over, an Ernst & Young Entrepreneur of the Year semi-finalist, Metropolitan Magazine's Most Influential New Yorker, a 2020 Top Crisis Communications Professional by Business Insider, and a recipient of Crain’s New York 2021 Most Notable in Marketing & PR. Torossian is known as one of the country's foremost experts on crisis communications, and is called on to counsel blue chip companies, top business executives and entrepreneurs both in the United States and worldwide. Torossian has lectured on crisis PR at Harvard Business School, appears regularly on CNN & CNBC, is a contributing columnist for Forbes and the New York Observer, and has authored two editions of his book, "For Immediate Release: Shape Minds, Build Brands, and Deliver Results With Game-Changing Public Relations," which is an industry best-seller. A NYC native, Torossian lives in Manhattan with his children. He is a member of Young Presidents Organization (YPO), and active in numerous charities