How important is it to retain your spot in the Premier League?

As three teams are promoted to the Premier League and prepare to take part in the campaign, the financial compensation for staying in the league is huge for all of these teams.

It is well documented the revenue that teams get as they have a full season in the Premier League. But just how vital is this new flow of cash? I

n the EFL Championship, the total amount of revenue allocated to the teams in the league is £749 million. In comparison, Premier League club's revenues skyrocketed to £6.1 billion. Teams that are not even in the big six category are paid an average of £184 million. There are many reasons for the inequality between the two leagues, such as the TV rights for the Premier League nationally and globally as well as ticket sales, sponsors and merchandise sales.

This makes promotion to the Premier League so valuable for these teams and surviving even more of an importance, hence why management can be frantic and hectic when it comes to a relegation battle, such as firing managers in fear that they will be out of the Premier League should they continue with the same manager.

These differences will also allow for these clubs in particular to be able to sign better quality players and coaches which is certainly crucial. In addition to this, teams could potentially see to updating their training facilities as well as their stadiums. This is so they can reach new revenue opportunities, such as ticket sales.

Premier League teams have been looking at upgrading their stadiums a lot in recent years, with teams such as Everton, Fulham and Crystal Palace all looking into these new projects to update their facilities. They are able to do this, having just endured sustainable runs in the Premier League and not even being within the big six category.

With the current era of football continuing to boom in business, it feels like there is no question how important promotion can be but even more so how pivotal survival in this league still is. None of Ipswich, Leicester or Southampton want to see relegation again this year if they want to build the foundations of an exciting football organisation, but only time will tell if their promises and prayers can be answered.