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As a die-hard Leicester City fan, I have first-hand experience of just how tough life in the Premier League can be. But if your one of the clubs that thrive in the world’s most popular league, it can extremely lucrative thanks to the billions of pounds worth of TV money flowing into the beautiful game.
Yesterday, Sky agreed to pay £4.2 billion for seven packages of live matches between 2016-2019 including a new Friday night slot. BT will pay £960 million for two packages including the Saturday night evening kick-off.
If share price movements are anything to go by, then BT has been judged the winner and Sky the loser by the City.
Investors worried on Wednesday that Sky had overpaid for its packages of 126 games over the next three seasons after it said it had forked out £1 billion more than analysts had forecast.
Sky shares fell by 4 per cent while BT shares rose per cent to a 14 year high.
Analysts at Deutsche Bank suggested Sky could push up subscriptions by £1 a month.
Between them they are paying an average £113,000 a minute for live Premier League coverage.Reuse content