The competition was created by the FA Premier League on 20 February 1992 following the decision of clubs in the Football League First Division to break away from the Football League, founded in 1888, and take advantage of a lucrative television rights sale to Sky.
Following the decision of clubs in the Football League First Division to secede from the Football League, founded in 1888, and take advantage of a lucrative broadcast rights deal to Sky, the tournament was established by the FA Premier League on February 20, 1992.
The league's total television rights negotiations from 2019 to 2020 were worth about £3.1B annually, with Sky and BT Group acquiring the domestic broadcast rights to 128 and 32 games, respectively.
Richard Masters, the Premier League's chief executive, is in charge of running the organization while the member teams serve as shareholders.
In 2016–17, clubs received £2.4 billion in central payment earnings, plus an additional £343 million in solidarity payments to English Football League (EFL) clubs.
The Premier League ranks first in the UEFA coefficients of leagues based on performances in European competitions over the past five seasons as of 2021.The English top-flight has produced the second-highest number of UEFA Champions League/European Cup titles, with five English clubs having won fourteen European trophies in total.
