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Luton Town won “the richest game in football” after beating Coventry City to secure a $200 million-plus promotion

Posted : 30 May 2023
Luton Town is the only team in history to go from the national league to the Premier League in less than ten years after moving from the fifth division to the first.
 
One of the greatest sports stories is about Luton Town FC. In 2003, the 138-year club was bought for only $7. The club was brought dangerously close to insolvency during the owners' brief 55-day tenure, sending them down into English Football's fifth level.
 
Luton's original stadium was near to a railroad, and the team was forced to relocate following constant complaints from players and supporters about being unable to see the ball due to train smoke.
 
Even if Luton Town were promoted back to the Championship the following season, they will now generate at least $200 million more in income over the following three seasons. This is due to the fact that the weakest Premier League side makes a lot more money from media rights than the top Championship team.
 
According to Deloitte's Sports Business Group, this increase in revenue also includes $70-$80 million in parachute payments in the event that Luton is demoted the following season.

To assist them in adjusting to the lower revenue streams in the Championship, the Premier League provides these payments to demoted clubs (for up to three years).

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