Now city are in the premiership they are supposedly going to get £100m, where are they getting it from and why?
Someone correct me if I'm wrong, but its £60m revenue from Sky and then £60m parachute payments to help relegated clubs.
Probably a lot more to be fair. Parachute payments (not that we'll need them) are expected to be £59m with £23m of it being in the first year following relegation.
It's actually at least £120m. The new Sky TV contract starts this Summer and due to the demand from overseas for Premiership football the money handed out to clubs has increased by 70%. If we got relegated next season, the money for next season and the parachute money for the following 4 years would amount to a minimum of £120m.
The Premier League payments for one season, along with parachute payments now exceed £100m, so even if you get relegated in the first season, you still get over £100m. With a full ground and increased sponsorship etc, it's estimated that promotion guarantees at least £120m. There was an economist from Hull Uni on Blunderside earlier, who claimed that it was also worth another £100m to the local economy. All in all, I think it's safe to assume that it's been a very profitable day.
The financial stability of the club has just been secured....well done to the Allams, they deserve it.
