{"id":12692,"date":"2024-06-13T16:07:04","date_gmt":"2024-06-13T14:07:04","guid":{"rendered":"https:\/\/svjmedia.nl\/internationaljournalism\/?p=12692"},"modified":"2024-06-21T10:11:07","modified_gmt":"2024-06-21T08:11:07","slug":"towns-going-up-how-the-premier-league-will-transform-ipswich","status":"publish","type":"post","link":"https:\/\/svjmedia.nl\/internationaljournalism\/12692\/towns-going-up-how-the-premier-league-will-transform-ipswich\/","title":{"rendered":"Town\u2019s Going Up: How The Premier League Will Transform Ipswich"},"content":{"rendered":"
With a victory against Huddersfield Town, Ipswich Town FC achieved its second promotion in as many seasons, securing a spot in the Premier League for the 2024-2025 season. As the team catapults to the greatest heights of English football, the town of Ipswich stands to benefit greatly from its success.<\/span><\/p>\n Twenty-two years have passed since the team\u2019s – known to fans as the Tractor Boys – last top-flight campaign. In that time, the Premier League has grown exponentially, now the biggest and <\/span>most lucrative<\/span><\/a> league in the world.\u00a0<\/span><\/p>\n Terry Baxter, who represents local businesses in the town’s Central Business Improvement District, stated that the club’s promotion could provide an economic benefit of approximately \u00a3<\/span>500-600 million<\/span><\/a> to the town. While Baxter did not respond to an interview request, and more conservative estimates place the boost lower, many in the town believe that Ipswich will experience major change from next season\u2019s first kick-off to its last and beyond, as Premier League participation will yield unprecedented capital, tourism and notoriety for the town, and its impact will be felt by all.<\/span><\/p>\n An unparalleled increase in revenue lies ahead for the club, says <\/span>Dr. Dan Plumley<\/span><\/a>, a sports finance lecturer at Sheffield Hallam University. Its three main revenue-generating arms – match day sales, commercial, and broadcasting – will rake in several times more than in previous seasons. Even if ITFC finish in last place next season, they will earn \u00a3100 million from broadcasting rights alone.\u00a0 With substantially more lucrative commercial deals and an expanded stadium next season, the other two streams of revenue look to grow substantially, too.\u00a0<\/span><\/p>\n Dr. Plumley says a conservative estimate of the club’s revenue would be around \u00a3120 million, but the club may earn more. Compared to the \u00a321.8 million generated in the 2022-2023 season – its final season in League One – the jump in revenue is immense. Dr. Plumley says the majority of this money will be invested in the team, but some may trickle into the local economy in various ways.<\/span><\/p>\n\n ITFC’s previous revenue (excluding the recently closed season) compared to an estimate of next season’s revenue. Graph made on Flourish.com using numbers provided by Dr. Dan Plumley.\u00a0<\/p><\/div>\n The economic effects of ascendance to the Premier League will be tangible outside of the walls of Portman Road and will provide a \u201ccertain\u201d economic boost to the town, according to the professor.\u00a0<\/span><\/p>\n Ipswich will benefit from \u201cfan bases in and around Europe that will fly into the UK to watch the games,\u201d he said. \u201cAnd when they start to stay in the local area, hotel nights, food, drink and any other secondary spend, that\u2019s what can generate a boost to the town.\u201d<\/span><\/p>\n Alongside tourists, new signings and returning players with higher salaries will spend more money in the local economy, and new jobs will be created, he says. With jobs created, community initiatives, and money spent in the town, Dr. Plumley says these marginal additions to the economy can add up and create a substantial difference.<\/span><\/p>\n While it is impossible to estimate an exact figure when predicting economic impact, a study done in 2011 showed that Swansea City\u2019s first season in the Premier League generated a \u00a3<\/span>58 million boost to its economy, with 400 jobs created <\/span><\/a>.\u00a0<\/span><\/p>\n Thirteen years later, Dr. Plumley said he assumes that number to be even higher in Ipswich.<\/span><\/p>\n With a salary around \u00a35,000 below the national average and a recent <\/span>rise in unemployment<\/span><\/a>, an economic boost of this scale is especially important for Ipswich and its residents, says Dr. Plumley.<\/span><\/p>\n In 2019, Ipswich was the 84th most economically deprived town in the country, according to a <\/span>report<\/span><\/a> done by Public Health Suffolk. In recent years – then exacerbated by the COVID-19 Pandemic – storefronts have been closing down at an astonishing pace in the town.<\/span><\/p>\n The economic downturn is evident on the short journey from Portman Road – the home of the club – to the town centre. Boarded-up windows and \u201cfor sale\u201d signs are visible on many corners leading to a dull, desolate shopping mall that was once a hot spot in the town.<\/span><\/p>\n[aesop_gallery id=”12696″ revealfx=”inplace” overlay_revealfx=”off”]\n \u201cIt’s a very difficult time for the high street,\u201d said Holywells Councillor George Lankester. \u201cIt’s a difficult time for shops and hospitality. They are struggling across the country.\u201d<\/span><\/p>\n According to Westgate Councillor Colin Kreidewolf, the local government is looking to leverage these economic opportunities to uplift the town amidst difficult times, and so are its residents.<\/span><\/p>\n The number of fans descending upon Ipswich calls for expansion in Ipswich. Games against giants like Manchester United, Liverpool, and Chelsea will draw both domestic and international crowds in numbers, unlike any fixture in the lower leagues.\u00a0<\/span><\/p>\nPremier League: Cash Cow<\/b><\/h2>\n

Growth & Prosperity<\/b><\/h2>\n