For years, the English Premier League has been seen as the pinnacle of football in terms of commercial control. More or less every player who takes part in playing in the Premier League is playing at the highest domestic football level in the world. However, even this league – with all of its financial strength – can sustain long recessions and months-long breakoffs of the football. That’s why reports suggesting the Premier League is set for a loss as big as £1bn is not something to ignore.

The clubs have been on high alert for some time now, with many fans resigned to the season coming to a premature end. However, with losses set to come in the hundreds of millions, it could run as high as a billion loss across the entire league. This would result in many clubs having to drastically reshape their club and their ability to use the money they have. It would also likely result in a massive change in form for how the league works.

Since its inception, the Premier League has had no qualms making its financial wealth known around the world. This is one of the largest sporting leagues in the world, and so there is a natural desire to spend to try and capitalise on that attitude of being the best.

This is a big reason why so many fans are worried about what the losses actually mean. For many people, the concept of these figures means that clubs who already spend massive sums of their turnover on wages will either need to shed squad numbers or stop spending as they do.

It’s going to have a major impact on the entire football world, but the Premier League in England might be the most changed league in the world come the end. Will it still be the best after such a transformative change?