What the public have known for a long time has been the subject of new research that highlights the gulf in earnings between the average worker and footballers in the Premier League.
OddsMonkey have undertaken a study that found that this year the gulf between a footballer’s wage and the UK average has increased dramatically with footballers getting on average 1000x more than the average worker.
The firm decided to take a look at the average wages of a top-flight footballer over the last 50 years and compare them to the national average wage at the time.
In 1970 Footballer’s wages were comparable to the average person. It turns out that even going back 50 years to 1970, footballers were still paid a lot more than the average person, but their lifestyles were relatively ‘normal’. That is until around 1992, when the Premier League was formed.
For example, a footballer in 1970 was paid around £70 per week which was 2.5x the average UK wage at that time. In today’s money, that would mean a salary of £1074 per week or £55,841 a year for a footballer.
Still a handsome salary, but footballers certainly weren’t living the millionaire lifestyles that they are today.
OddsMonkey added: “The average house price in the UK for 2019 is £212,964, so while most of us are struggling to save up a deposit to buy one house in our lifetimes, the average footballer could buy 1 house, outright, every single month.”
In 2019, it would take someone on the average UK salary 105 years to earn the same as a footballer earns in 1 year.
“Between 1970 and 2019, if the average worker saved every penny they earned they would amass around £696,500,” it added. “In 2019 a footballer could earn this amount in just 12 weeks. So the average footballer in the Premier League is now earning the average lifetime earnings once every 3 months.”
The increase in popularity of the game is behind the rising wages coupled with the advancements in TV technology, there is an ever-growing global audience for top-class football.
“Teams in the Premier League earn a percentage of the TV rights and as that grows, the desire for clubs to get into – and stay in – the Premier League grows with it. In order to do that, you need the best players and that has caused player wages to increase as they have.
“So football clubs in the top flight now have massive earning potential; not only TV money, but everything else that comes with having a huge audience.”
Above pic: Premierleague.com