May 26th 2024.
Last year, Luton emerged victorious over Coventry in the play-off final, which is widely known as the most lucrative game in the world of football. And this Sunday, the battle for promotion to the prestigious Premier League will take place between Leeds United and Southampton at Wembley Stadium.
Both clubs are determined to make an immediate comeback to the top-flight and join the likes of Leicester City, who clinched the Championship title, and runners-up Ipswich Town. But just how profitable is this final and what are the consequences of losing it?
One might wonder what the prize money for winning the Championship play-off final is. Well, there isn't a fixed amount, but the promotion to the Premier League brings along numerous financial benefits. According to Deloitte's Sports Business Group, the victorious club can expect a revenue increase of at least £140million over the next three seasons.
This massive sum takes into account the parachute payments that are granted to teams in case of relegation back to the Championship. And if the club manages to avoid the drop in their first season, this figure could skyrocket to over £305m. These estimations also include the projected increases in matchday, broadcast, and commercial revenue, with a whopping £31m paid out to clubs just for being a part of the Premier League.
Interestingly, even after their relegation last year, Leeds, Southampton, and Leicester have been earning upwards of £100m this season thanks to the parachute payments. However, as a result, their revenue increase might be on the lower side of these estimations. On the other hand, Ipswich, who haven't competed in the Premier League since 2002, are predicted to see a staggering revenue rise of at least £200m.
But what happens to the team that loses in the play-off final? As part of a gentlemen's agreement, the runner-up receives a share of the gate receipts, which usually amounts to around £2m – a considerably smaller sum compared to the winner's earnings.
In recent years, losing the play-off final has had dire consequences for some clubs, leading to financial struggles and eventual relegation to lower divisions. However, it's worth noting that this can also be attributed to mismanagement by the club owners. One prime example is Derby County, who spent heavily on a promotion campaign only to face defeat at Wembley against Aston Villa in 2019. Two years later, they entered administration and were eventually relegated to League One.
Similarly, Reading also missed out on promotion after losing on penalties to Huddersfield Town in 2017. This season, they finished a disappointing 17th in League One and are currently undergoing a lengthy takeover process. And then there's Huddersfield, who suffered relegation from the Premier League in 2019, narrowly lost the play-off final to Nottingham Forest in 2022, and this year, found themselves falling down to the third-tier.
The Championship play-off final is scheduled to take place on Sunday, 26 May at 3pm, exactly 24 hours after the all-Manchester FA Cup final. In the semi-finals, Leeds, who finished third in the Championship with 90 points, faced Norwich City. After a goalless draw in the first leg, Daniel Farke's side crushed the Canaries 4-0 at Elland Road to secure their spot in the final. Southampton, on the other hand, finished fourth with 87 points and went up against West Brom in the semis. Their first leg also ended in a 0-0 stalemate, but the Saints bounced back with a convincing 3-1 victory at St. Mary's.
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