Nonsense the money these things get go into venues and investment in people. They help sustain a cultural gap which is run at a minimal cost.
Football overpay players and managers, the directors themselves take massive salaries. We have 3 bodies overseeing the game at pro level and another 2 at semi pro level. Football has too many clubs, too many hangers on taking a wage, too much protection for the clubs in the leagues that are run poorly.
There are enough football fans willing to pay a reasonable amount of cash but too many people taking money out the game. It would be insane for the government to feed more cash into these people.