Leicester City FC’s Premier League win on Sunday has been routinely described as a “fairytale” by the media, but it’s also worth £150 million ($221 million) to the club, according to data analysts Repucom, in a report cited by the BBC.
The revenue boost will come from Premier League prize money, Champions League participation cash, and greater match day revenues from increased attendance.
Leicester City will also have greater commercial sponsorship and a spike in worldwide fans, Repucom said.
Dan Jones, partner in sports business at Deloitte, agreed that Leicester’s league win was a major financial coup for the club.
Speaking to BBC 5 Live, he said that “last night’s game in and of itself was worth about £5m to them. It’s much more about a football story here. A club that won against the odds. If Leicester were to retain the title they will be £70m or £80m better off next year. It definitely has a sizeable economic impact,” he said.
Business Insider previously reported that some fans who bet on Leicester winning the league at the beginning of the season are now £100,000 richer.
While this shock league win will be great news for Leicester City FC’s finances, it’s been painful for betting companies. A representative for Ladbrokes confirmed to Business Insider that it would cost them about £3 million in payouts.