This is how much Leicester City's Premier League success added to the local economy

[davieG]

Leicester City's Premier League success last season added an estimated £140 million-plus to the local economy, supported more than 2,500 jobs and generated more than £78 million in tax revenues, according to a report.

And while their standing in the league this season has been less than inspirational, the club will continue to contribute millions to the local economy, thanks to sell-out European fixtures and major TV deals.

According to global accountancy giant EY, some 120,000 visitors travelled to Leicestershire to watch the club play during its miracle season, while Champions League football – including tonight's home fixture with Club Brugge – presents the club and region with further "significant opportunities".

Leicester City chief executive Susan Whelan, said the support the club had received from the city over the last 18 months and beyond had been "overwhelming", so it was "wonderful" to give something tangible back.

Champions League football – including tonight's home fixture with Club Brugge – presents the club and region with further "significant opportunities".

 

 

She said: "The figures in the report are extremely positive and reflective of a city that immersed itself in the Leicester City story and used it to generate a feel-good factor through-out the region.

"The success of the club has been a catalyst, but it is the way it has energised our community that has truly allowed its potential to be realised.

"It was always our intention to ensure that, once the initial euphoria of lifting the Premier League title subsided, there was a positive legacy for our community and economy and we intend to see that through by continuing to help support jobs, stimulate growth and raise Leicester's international profile."

The EY report, drawn up for the club and Premier League, estimates visiting fans spent more than £6.5 million on local travel, accommodation, food and drink, and shopping last season, stimulating economic activity and supporting more than 380 jobs.

 

It said the contribution of the club was boosted by its investment in its local community through two charitable foundations – the Leicester City Football in the Community Trust and Leicester City Foxes Foundation. Last season, the trust spent about £580,000 on projects that benefited 6,600 locals.

And at the end of last season, the club also announced a £2 million donation to the Leicester Hospitals Charity.

Despite being just two points off the relegation zone so far this season, the club is in line to collect a share of £5.1 billion for this season and the next two, thanks to record deals with Sky and BT – some of which will inevitably trickle down into the local economy.

 

 

Mark Gregory, EY's chief economist, said: "The sporting and commercial success of the club in 2015/16 and the projected growth in 2016/17 has allowed it to further embed itself as a key participant in the local economy.

"As the club grows it attracts more fans, employs more people, engages more local suppliers, invests more in community facilities, increases the region's global profile and elevates its attractiveness to visitors and businesses alike."

He said the economic contribution should also increase thanks to Leicester's strong performances so far in its Champions League campaign – winning three and drawing one of their first four matches.

The EY study suggests it will drive additional stadium revenue of up to £4 million, and prize money of between £29 million and £96 million, depending upon how City perform.

It said the Champions League fixture could also be expected to attract up to 10,000 additional international visitors, contributing up to £8.4 million to the region.

Read more at http://www.leicestermercury.co.uk/this-is-how-much-leicester-city-s-premier-league-success-added-to-the-local-economy/story-29923845-detail/story.html#jQ8Z5zppi6Dp3GIh.99

[purpleronnie]

Looks like this season might cause a recession then.

[foxy boxing]

1 minute ago, purpleronnie said:

Looks like this season might cause a recession then.

as long as we don't have a double dip recession, that would be bad news for us!