The Athletic.

Hello, I'm Mark Chapman.

Welcome to the Business of Sport podcast on The Athletic,

much later with us as usual.

We are very much at the business end of the season.

So the focus of today's pod is the financial impact of promotion and relegation on men's

professional clubs in the English football pyramid. You've got, of course, the likes of Liverpool

and Manchester City battling for trophies and huge sums of money at the very top. Then there's

clubs like Nottingham Forest,

dreaming of joining them back in the Premier League.

But at the other end, Derby, Barnsley,

crew, Doncaster,

all counting the cost of relegation with others on the brink.

And then last weekend, of course,

Oldham Athletic became the first side

to have played in the Premier League

to be relegated from the Football League.

So our first guest is Julian Tag, president of Exeter City, who this week secured promotion to League 1,

two leagues below the Premier League after a decade in League two.

Well, congratulations, first of all, Julian.

Must be a great feeling today.

I mean, yesterday's a great feeling.

...