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Why was the Premier League formed?

The Premier League was formed to maximize the economic potential of English football by creating conditions to improve stadiums, sign lucrative deals, and attract top players and managers. In 1990 Arsenal, Everton, Liverpool FC, Manchester United, and Tottenham Hotspur, five of the biggest teams in English football at the time, suggested forming a breakaway league of English football to gain a greater share of revenue from sources including broadcasting rights and ticket sales.