Monday 15 May 2017 16:40, UK
Hull City have joined Sunderland and Middlesbrough in being relegated from the Premier League - but what is the financial impact of dropping into the Championship?
The three clubs will be back in the second tier for the 2017/18 season and as a result they will receive less money from broadcasting rights, matchday income and commercial revenue than they would have done if they had remained in the Premier League.
Deloitte's Sports Business Group estimate this loss to be at least £55m-£65m.
To put that into context, Middlesbrough - the top spenders of the trio this season - paid out £40.8m in transfer fees in the summer and winter transfer windows of 2016/17.
As with all relegated clubs, Sunderland, Middlesbrough and Hull will receive parachute payments from the Premier League to ease the financial hit of dropping down a division.
In their first year out of the top flight, Sunderland will receive 55 per cent of the equal share of broadcast revenue paid to Premier League clubs. They'll then receive 45 per cent the next season and 20 per cent in 2019/20, if they haven't returned to the Premier League by then.
Because Hull and Middlesbrough have only spent one season in the Premier League, they will only receive the first and second of these installments while they are in the EFL.
So what are the chances of those three sides bouncing back into the Premier League?
The stats suggest a fast return isn't guaranteed. Since the Premier League's formation in 1992/93 through to the end of the 2014/15 season there were 70 relegations but only 22 teams have won an immediate promotion back into the Premier League - 28.6 per cent.
With so many funds available in the Premier League, Sunderland, Middlesbrough and Hull will be desperate for a quick comeback.
