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Premier League To Share $1.5B Of $7.5B TV Rights Deal With Rest Of English Football

The Premier League will share £1B ($1.5B) "over three years with the rest of English football," according to Charles Sale of the London DAILY MAIL. The size of the hand-outs, which amounts to £50M ($74.5M) per club, "will go to five specific areas of the game." The deal is said to be "unprecedented in global sport" and amounts to an increase in excess of 40% over the previous redistribution figure. The numbers "were unanimously agreed at Thursday's summit of Premier League clubs" -- the first meeting since the £5B ($7.5B) domestic TV rights deal. Sharing the bonanza so quickly "will go some way to countering the Premier League’s ‘greed is good’ image." Premier League CEO Richard Scudamore: "You can’t find me another sport that is committed to this level of sharing. You can use other fancy words like redistribution but this is sharing. It’s sharing in the success of English football" (DAILY MAIL, 3/26). In London, Owen Gibson reported Scudamore "outlined five areas in which the money would be invested" but said that "it was too early to say how much each would receive" until overseas deals, which could take the total to £8.5B ($12.6B), were negotiated over the rest of the year. The £1B includes money "given to relegated clubs in the form of parachute payments and so-called solidarity payments to the Football League and Conference." However, it will also include "increased investment in grassroots sport, facilities and fan engagement, including more money for the fund that clubs use to subsidise tickets and travel for away supporters." Whether that will be enough to satisfy fan groups who gathered outside the meeting on Piccadilly with a megaphone and banners to demand lower ticket prices "remains to be seen" (GUARDIAN, 3/26).

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