by KenH » Wed Jan 11, 2023 3:39 pm
It's an entertainment business, involving big money from the sponsors, TV rights, betting, etc. It's not as if your £25 entry ticket is paying those kinds of wages! The sponsors must think the money they pay is worth it based on the returns they make based on advertising and marketing. A successful, high profile club will earn huge amounts in sponsorship and TV rights when it's on TV a lot and the way to become high profile and on TV a lot is by "buying" the best players, of which there is a very small number capable of playing in the best clubs. It's just based on competition between the clubs as to who'll pay the highest wage for the players they want. Players themselves would be daft not to try to get the highest deal they can, especially considering the very brief length of their careers and risk of it being curtailed by injury or just losing their form. If there were a lot more "top" players then the wages would fall as higher supply changes the dynamics of the supply v demand economics.
Just the same with other entertainment businesses such as movie stars, pop stars, TV personalities, etc - what they earn depends on their popularity which determines advertising revenue/sponsorship, etc.