The competition was founded as the
FA Premier League on 20 February 1992, following the decision of
First Division (the top-tier league from 1888 until 1992) clubs to break away from the English Football League. However, teams may still be relegated to and promoted from the
EFL Championship. The Premier League is a corporation managed by a
chief executive, with member clubs acting as shareholders.
[ 3 ] The Premier League takes advantage of a £5 billion television rights deal, with Sky and
BT Group securing the domestic rights to broadcast 128 and 32 games, respectively.
[ 4 ] [ 5 ] This deal will rise to £6.7 billion for the four seasons from 2025 to 2029.
[ 6 ] The league is projected