TV money. Just like the NFL, the owners aren't making the big money off ticket sales. The team that finishes dead last in the Premiership are guaranteed 42 million British pounds this season from the TV rights. By contrast, the winners of the Bundesliga will receive less than 5 million pounds sterling.
The big money is in the Champions League group stages and beyond and in the English Premiership.
English clubs must be careful - the Italian league collapsed under its own weight back in the early/mid nineties because of high wage bills and decreasing TV revenue.
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