Economy nets major boost from Premier League success
#PLSeasonReview EY reports on the significant economic impact of Premier League football in the UK
bit.ly/PLSR-econ-impact
Premier League Season Review 2014/15
EY reports on the significant economic impact of Premier League football in the UK http://bit.ly/PLSR-econ-impact
#PLSeasonReview EY reports on the significant economic impact of Premier League football in the UK bit.ly/PLSR-econ-impact
The Premier League’s on-going success and popularity allows continued investment in the game centrally and by clubs, creating a significant wider economic impact.
An Ernst & Young (EY) Economic Impact Assessment of the Premier League has reported that the League and its 20 member clubs generated a total tax contribution of £2.4bn to the UK Exchequer in the 2013/14 season. The assessment also reported that the League and clubs supported over 100,000 jobs as well as making a contribution of £3.4 billion to UK GDP.
A focus on delivering the best possible football competition, with compelling matches played in world-class stadiums full of passionate fans, has established the Premier League as the most watched continuous annual global sporting event in the world. Sporting success and fan interest allows us to generate income for our clubs and to continue to support the wider English game outside the Premier League. Clubs are then able to invest in players, facilities, Academies and their communities.
Commenting on the report, EY’s Chief Economist Mark Gregory said, “The success of the Premier League, which is grounded in the quality of the football competition, has created a ‘cycle of growth’. This should help ensure that the significant contribution to the UK economy and society will continue to increase in years ahead.”
£2.4 billion tax contribution in the 2013/14 season
To put this figure into context, EY calculated that this substantial contribution to the UK Exchequer could pay the salaries of around 93,000 police constables, which is over 90% of all constables in England and Wales. The tax contribution includes £891m in tax directly paid by Premier League players.
Over 100,000 jobs were also supported
As a result of Premier League and club activities, 103,354 Full Time Equivalent jobs were supported in the UK in 2013/14. In March 2015, Premier League 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.
Regional Impact
Huw Jenkins, Swansea City AFC Chairman also highlighted the significant regional impact of the Premier League, stating: “Being in the Premier League and the economic benefits that it brings has been key. Possible stadium purchase and expansion, continuing club growth and the city of Swansea being known around the world are all linked to our success on the Premier League stage.”
Following a separate regional study, the South Wales Chamber of Commerce had also noted that even towns within a 50 to 100 mile radius of Swansea had benefited from the football club’s success on the global Premier League stage.
The full EY Economic Impact Assessment is available at www.ey.com/PremierLeagueEconomicImpact
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