On This Day – 17th July
It was on this day back in 1991 that the Founder Members Agreement was signed by First Division clubs for the foundation of the new Premier League.
The Agreement laid out the basic principles for setting up the Premier League, which would have commercial independence from the rest of the Football League.
The Premier League was devised by Greg Dyke, head of London Weekend Television and representatives from the ‘Top Five’ clubs in the First Division. These five were Arsenal, Everton, Liverpool, Manchester United and Tottenham Hotspur. Talks began in 1990 and went on for a few months between this group and the Football Association.
In June 1991, a report was released by the Football Association called the ‘Blueprint for the Future of Football’ and the Founder Members Agreement was signed on this day back in 1991.
The Premier League would been independent from the Football League and the Football Association, thereby having its own commercial rights for sponsorship and advertising.
The 22 First Division clubs resigned from the Football League on 20th February 1992 and on 27th May 1992, the Premier League became a Limited Company.
BSkyB won the television rights to broadcast live games, outbidding ITV and the BBC in the process.
The first weekend of Premier League action came on 15th August 1992 and there were 22 clubs in the League’s inaugural season. This reduced to 20 at the end of the 1994/95 season.
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