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Why The English Championship Is One Of The Worlds Top 10 Biggest Football Leagues

men on coach watching football on tvThe English Championship is probably the best-known second tier league in football. Giving some topflight leagues and clubs a run for their money when it comes to history, fan base and on-field quality.

Consisting of 24 teams playing 552 matches, the two best ranked teams win direct promotion to the Premier League. Numbers three to six play playoffs to determine who joins them. The play-off final staged at Wembley is considered one of football’s biggest and most lucrative games. With the 2023/24 play-off winner Southampton earning at least £140 million more in revenue across three seasons by winning that match. While 2022/23 winner Luton Town stood to receive at least £170 million more in revenue.

So, how exactly does the league rank on metrics like revenue, attendance and viewership compared to other leagues? And how competitive is the Championship really?

Championship ranks amongst the top 10 strongest leagues

england football hitting the back of the netComparing the strength and competitiveness of the Championship with other (topflight) leagues is difficult. UEFA coefficients, for example, are based on clubs’ performances in European competitions and Championship clubs (generally) do not qualify for such competitions.

A way to compare clubs from different (tier) leagues across the world is with Opta’s Power Rankings. The metric assigns a rating and ranking to teams based on a hierarchical Elo-based rating system. It is dynamic and thus alters throughout the season. By taking the leagues’ average team Power Rating, leagues can be compared.

In October 2024,1 Opta’s Power Rating unsurprisingly ranked the Premier League as the strongest league. Ahead of the Italian Serie A and Bundesliga. The English Championship was ranked as 10th strongest. The strongest second tier league, but behind the Big Five leagues and topflight leagues in Brazil, Portugal, Belgium, and North America. Although ranked ahead of the top tier leagues of Argentina, Denmark and the Netherland, the Championship’s average team Power Rating was quite comparable.

In October 2024, Opta assigned an average team Power Rating of 77.6 to the Championship and 77.3 to the Eredivisie. By the end of January 2025, this average had risen to 79.3 and 79.2 respectively.2

Like the Championship, the German and Italian second tiers could also be considered strong. In October 2024, the 2. Bundesliga and Serie B had an average team Power Rating of 76.3 and 76 respectively. Making them the 17th and 19th strongest leagues at the time.

Top 3 strongest second tier leagues based on Opta’s Power Rating on October 14, 20241

League Teams average Power Rating
Championship (ENG) 77.6
2. Bundesliga (GER) 76.3
Serie B (ITA) 76

Championship has less disparity

chart opta power rating of champinship and eredivisie clubs

On average, the Championship clubs thus rank comparably, or even better, than some top tier leagues. Despite those leagues having clubs with higher ratings. Eredivisie clubs like PSV, Feyenoord, and Ajax, for example, have a higher Power Rating than the Championship clubs.

The Eredivisie clubs, and those of some other top tier leagues, have a far greater disparity in Power Rating (and thus team strength and quality). The Championship could therefore be considered more competitive.

At the end of January, the difference between the highest and lowest ranked Championship clubs (10.7) was almost half that of the highest and lowest ranked Eredivisie clubs (20.5). Taking only the ten highest ranked teams, and the Eredivisie (83.1) could be considered stronger than the Championship (81.8).

Championship is competitive

chart average points per match of clubs ranked first and last

A competitive league would likely also have less disparity in the number of points accrued by the league’s champion and the club finishing last. Or between the champion and the runner up.

During the last four seasons, the club finishing last in the Championship accrued on average 61 points less than the champion (range: 56-70). During the 2023/24 season, champion Leicester City (97 points) had 70 points more than number 24 Rotherham United (27 points).

On average the number one earned 1.33 more points per match than those finishing last during the last four seasons. In the Premier League the difference during this period was 1.8 points per match. The Championship champions accrued less points per match than the Premier League champions (2.09 vs 2.36). While the clubs finishing last earned more points per match (0.76 vs 0.57).

Across the last four seasons, the Championship was also quite competitive in the race for the title. Twice did the champion win by two points or less. In the Premier League and Ligue 1 this happened in two of the four seasons as well.

The difference between average points per match of the clubs finishing first and second was 0.10 in the Championship. Ahead of the Premier League (0.13), Liga Portugal (0.17), and Ligue 1 (0.18).

Championship is not a very high scoring league

chart goals per match between 2019-20 and 2023-24

Competitiveness is an essential element for entertaining fans. Just as the number of goals scored. Between 2019/20 and 2023/24, Championship clubs scored on average 1388 goals per season (range: 1274-1480).

With 2.51 goals per match across that period, the Championship is by no means a very high scoring league. Clubs in the Bundesliga scored 3.15 goals per match during that period. While Eredivisie (3.05) and Belgian Pro League (2.94) clubs also scored more on average.

Premier League clubs scored 2.87 goals per match. Like the Championship (2.68) the 2023/24 Premier League season was the most productive, with 3.28 goals scored per match.

Championship clubs have a rich history

blackburn rovers league performance 1888-2024

Blackburn Rovers FC League Performance 1888-2024 – EclecticArkie, CC BY 3.0, via Wikimedia Commons

The clubs playing in the Championship all have a rich history. Of the 24 teams playing in the 2024/25 Championship, 19 have competed in the Premier League since its introduction in 1992/93. Including Blackburn Rovers, who won the 1994/95 Premier League season after finishing second the season prior. Norwich City (1992/93) and Leeds United (1999/00) are two of the other clubs to have finished in the Premier League top three.

A total of 10 clubs won the English topflight (including pre-Premier League) on 26 occasions. With Sunderland being crowned champions the most often with six. Leeds United is the only 2024/25 Championship club to have won a European competition (two Inter-Cities Fairs Cups).

2024/25 Championship clubs’ historical topflight and European success

What How often Who
Premier League champion 1 Blackburn Rovers (1994/95)
Premier League top three 4 Blackburn Rovers (first & second in 1993/94)

Norwich City (third in 1992/93)

Leeds United (third in 1999/00)

English topflight champion 26 10 clubs

Sunderland (most with six)

European competition champion 2 Leeds United (two Inter-Cities Fairs Cups)

Championship’s average stadium capacity comparable to the Turkish Süper Lig

chart average stadium capacity for slected leagues

With rich histories, it is no surprise that these clubs have large and loyal fans bases. And stadiums to match.

The 2024/25 Championship clubs have an average stadium capacity of 27,096.3 Which is around 66 percent of the 41,275 average stadium capacity in the Premier League. The Stadium of Light (Sunderland) has the highest capacity with 48,707. Which would rank them eighth amongst Premier League clubs. Kenilworth Road (Luton Town) has the lowest capacity with 11,850. This is still more than the number of people Bournemouth can host at the Vitality Stadium (11,307) in the Premier League.

The Championship’s average stadium capacity is comparable to the Süper Lig. The Turkish topflight has an average capacity of 27,823 in 2024/25. Of the Big Five leagues, the Ligue 1 has the lowest capacity with 33,634. Which is 24 percent higher than the Championship.

Yet, it is lower than Germany’s second tier. The 2. Bundesliga has an average stadium capacity of 35,525. With eight out of 18 clubs, including Hertha Berlin, Schalke 04 and HSV, having a capacity of over 49,000.

England’s second tier does have a higher average stadium capacity than the first divisions in the Netherlands (21,095), Portugal (19,064), and Belgium (16,596).

Second in aggregate attendance, but trailing the second Bundesliga on average

chart average attendance per match for selected leagues

Although stadium capacity can suggest something about the size of the clubs in the league, the attendance figures give an even better indication.

During the 2023/24 season, the Championship had 12.7 million in aggregate spectators.4 Which ranked the league second worldwide behind the Premier League. The average attendance of 23,000 per match ranked the Championship seventh amongst European leagues.

The Bundesliga ranked first with over 39,500 spectators per match. Ahead of the Premier League, who had an average crowd of almost 38,700.

The German second tier averaged over 29,000 supporters per match (aggregate crowds of 8.9 million). Ranking fourth just behind the Serie A, but ahead of La Liga (stadiums being renovated, like Camp Nou), Ligue 1, and the English Championship.

Revenue compared to other leagues

chart championship clubs revenue 2013-24 to 2022-23

Attendance figures directly impact the amount of matchday revenue a club receives. During the 2022/23 season, 20 percent of Championship clubs’ aggregate revenue (£749 million) came from matchdays.

Since 2013/14, aggregate revenue has increased by 53 percent from £490 million. Although the COVID-19 pandemic has dampened revenue in recent years, revenue is approaching the record-amount of £786 million generated during the 2018/19 season.

With an average revenue of £31.2 million per club in 2022/23, the average Championship club generates significantly less revenue than a Premier League club (£302.9 million). The gap with the Premier League has also increased. The average Premier League club earned 8.0 times as much as a Championship club in 2013/14. This had increased to a factor 9.7 in 2022/23.

And while the Premier League is far ahead of the other Big Five leagues in terms of revenue, the clubs in those leagues earn on average between 3.3 and 5.9 times as much as Championship clubs as well. With the gap with the Ligue 1 the smallest, as the French clubs earned on average £103 million in 2022/23.

The average revenue of a Championship club is more in line with the Eredivisie. In 2022/23, Dutch topflight clubs earned on average £31.8 million.5

Disparity in clubs’ revenue

football increasing piles of moneyLike the leagues’ competitiveness, the Eredivisie also has more disparity in revenue than the Championship. During the 2022/23 season, the Championship’s highest revenue generating club (Norwich City: £75.75 million) generated 4.9 times as much as the club with the lowest revenue (Preston North End: £15.566 million). For the Eredivisie the difference was a factor 20.7. As Ajax earned around £170.69 million while Excelsior earned £8.26 million.

In the Premier League, this difference was a factor 5.1 and thus more in line with the Championship. Furthermore, the three highest revenue generating clubs accounted for a similar percentage of total clubs’ revenue in both leagues (Premier League: 32 percent and Championship: 28 percent). While the Eredivisie top three accounted for 60 percent of the Eredivisie clubs’ total revenue.

Despite having less disparity than both the Premier League and Eredivisie, it is an issue stirring much debate. Especially the role of parachute payments and the negative effect it has on the league’s competitiveness.

Parachute payments

parachute paymentsParachute payments are received by clubs who get relegated from the Premier League. Introduced to incentivise Premier League clubs to invest on and off the field knowing they have a financial safety net in case they do get relegated. In the first season in the Championship after relegation, clubs receive 55 percent of the central distribution every Premier League club receives. In the second year this reduces to 45 percent. While a third parachute payment of 20 percent is made to clubs who spent more than two seasons in the topflight.

Parachute payments are also the reason why the promotion play-off final has such high financial stakes. As promotion to the Premier League ensures a direct uplift in revenue, even in case of immediate relegation.

The debate is whether parachute payments and other financial distributions are distorting the Championship’s competitive balance. Three of the four clubs ranking in the top four in 2022/23 received parachute payments. Moreover, between 2014/15 and 2023/24, 37 percent of the teams that got relegated from the Premier League the season prior achieved immediate promotion.

During 2022/23, five teams received parachute payments of around £200 million.6 Which made up around 27 percent of clubs’ total revenue. The average revenue of those five clubs (£66 million) was three times the £22 million of the other 19 clubs. With the revenue gap between the highest and lowest revenue generating clubs amounting to £60 million.

Championship broadcasted to 400 million people across 182 territories

men on coach watching football on tvThe £200 million in parachute payments are part of the £397 million in broadcast revenue Championship clubs earned in 2022/23.6

From the 2024/25 season onwards, broadcast income will increase as the EFL (consisting of the Championship, League One and League Two) has agreed on a new domestic rights deal with Sky Sports. The five-year deal is worth £895 million in addition to £40 million in additional marketing benefits. Which is a 50 percent increase on the previous deal. The extra £60 million per year is distributed on such a basis that Championship clubs are expected to receive 67 percent more.

The new deal also includes more coverage. Over 1,000 matches from across the EFL competitions will be broadcasted each season from 2024/25 onwards (previous deal: 243 matches).

At the same time, the EFL also agreed a new partnership with CBS Sports. The American network will cover a minimum of 155 Championship matches per season. Only adding to the global audience of 400 million across 182 territories the EFL had in 2024.

Championship clubs overspend

football money costsIncreasing revenue from broadcasting does not necessarily mean more to spend for most Championship clubs though. At least if they practice sound financial management and value the club’s long-term financial health. In recent years, it has been common practice for Championship clubs to overspend in a bid to win promotion to the Premier League. The financial return of reaching the Premier League would then compensate for such risky investments.

Especially wage costs are alarmingly high for Championship clubs over the last decade. During the 2022/23 season, 10 clubs spent more on wages than they generated in revenue (one club’s financial information was unavailable).6 UEFA and many national leagues suggest and even require clubs to have a squad costs-to-revenue ratio of below 70 percent.

In 2022/23, 96 percent of the Championship clubs had a wages-to-revenue ratio surpassing 70 percent. Only Rotherham (66 percent) could be considered financially healthy based on this metric. By spending £10.3 million on wages, Rotherham spent 24 percent less than Blackpool, the club with the second lowest wages.

Premier League clubs (£202.95 million) spent on average 6.8 times as much as Championship clubs, despite earning 9.5 times as much in revenue. 60 percent of the Premier League clubs had a wages-to-revenue ratio of over 70 percent.

While revenue per Championship club was comparable to the Eredivisie, Championship clubs spent on average 63 percent more on wages during 2022/23. Furthermore, only three Eredivisie clubs (18 percent) had a wages-to-revenue ratio of over 70 percent.

Championship clubs’ revenue and wages compared to the Premier League & Eredivisie5,6

League Average revenue per club Average wages per club % of clubs with wages/revenue-ratio of >70% | >100%
Championship £31.9m £29.8m 96% | 43%
Premier League £303.4m £202.95m 60% | 5%
Eredivisie £31.8m £18.3 18% | 6%

Championship second highest positive net transfer spending

Between 2015 and 2024, the Championship spent £2.55 billion in committed transfer fees. Ranking sixth behind the Big Five leagues, but ahead of the Saudi Pro League (€2.09 billion) and the Chinese Super League (€1.88 billion).

Despite spending relatively a lot on transfer fees, Championship clubs also received €4.05 billion from player sales. Giving them, with €1.5 billion, the second highest positive net transfer spending during that period. Behind the topflight of Portugal (€2.34 billion), but ahead of those in the Netherlands (€1.49 billion) and Brazil (€1.47 billion). During that period, the Premier League recorded a negative balance of €11.54 billion.

In addition to permanent transfers, Championship clubs also take players on loan. In March 2023, 16.4 percent of the Championship players were on loan. Less than in League One (17.3 percent) and League Two (17.8 percent). And less than in the second divisions of Spain (19 percent) and Italy (22.8 percent).

Premier League and other Big Five leagues shop in Championship

premier league flag in the windEnglish clubs do like to spend within their borders. Between 2014 and 2023, 63 percent of English transfer spending was done domestically. This includes (high value) transfers between Premier League clubs, but also with and between Championship clubs. More than the other Big Five Leagues did, with Italy spending 52 percent domestically (second most).

That the Premier League and the other Big Five leagues use the Championship to scout players is highlighted by the amount clubs from those leagues spent on transfer fees. Between 2013 and 2022, Big Five league club spent €2.165 billion in transfer fees on Championship players (€216.5 million per year). Only the Portuguese topflight received more with €2.41 billion during that period. While the Championship was ahead of the Eredivisie (€1.716 billion) and the Brazilian topflight (€1.186 billion).

Talents going on to represent England

Many England national team players have at one time or another, played in the Championship. Some out on loan to gain experience, others while their team were relegated. Harry Kane for example has played 35 Championship matches (nine goals) while on loan at Millwall and Leicester City from Tottenham Hotspur.3

Aged 16, Jude Bellingham made his debut for Birmingham City. He played 41 Championship matches before being sold to Borussia Dortmund for over €30 million.

The midfielder currently plays for Real Madrid and has played 40 matches for England.

Manchester United’s Harry Maguire played 43 matches in the Championship. The 64-time England international played for Sheffield United, Wigan Athletic, and Hull City.

While Aston Villa forward Ollie Watkins played 132 matches (45 goals) for Brentford in the Championship. With West Ham’s Jarrod Bowen scoring even more Championship goals (52) during his 117 matches for Hull City.

Selection of players who played in the Championship and for England3

Player Championship matches (clubs) England caps Highest market value
Ollie Watkins 132 (Brentford) 18 €65m
Jarrod Bowen 117 (Hull City) 14 €50m
Jamie Vardy 98 (Leicester City) 26 €20m
Jack Grealish 89 (Aston Villa) 39 €100m
Ashley Young 73 (Watford) 39 €27m
James Maddison 47 (Norwich City) 7 €70m
Ben White 46 (Leeds United) 4 €55m
Harry Maguire 43 (Sheff. United, Wigan, Hull City) 64 €70m
Jude Bellingham 41 (Birmingham City) 40 €180m
Harry Kane 35 (Millwall, Leicester City) 103 €150m

The Championship is a strong league full of clubs with rich histories and players with promising futures. As the (financial) gap with the Premier League continues to grow, clubs are tempted to overspend in a bid to win promotion and receive the accompanying financial benefits. Which is detrimental to the Championship and its clubs in the long run. Apart from that, the Championship can hold its own with many non-Big Five leagues in terms of history, revenue, popularity, and entertainment.

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