No, calm down. Let the dust settle. No one has a clue what Brexit will do to the English Premier League (EPL).
Britain is the 5th biggest world economy (temporarily 6th due to the drop in the sterling, but that will recover). Going alone show's Britain has the confidence in its economic prowess. It has an internal economy. Britain will be fine. London will still be a financial world capital, with the constitutionally separate City of London being an attractive world node, but the UK will fight for access to the common market and that means football players.
The first thing to say is that Premier League stars from EU nations aren't going to be kicked out following Brexit. Any new rules won't be applied retrospectively.
Britain is delaying starting negotiations until September, playing for time to change the public choice through internal and external pressure. Until negotiations begin, the UK is a fully active EU member. If negotiations begin, fan bases won't be affected. It's called telly, people watch it all over the world, and many sports fans won't care what happens politically; sport is sport. The broadcasting sponsorship deals are guaranteed until 2019, so no worries there. The sponsorship deals aren't going to erode because they're televised and appear visually through many media platforms. Exiting the EU doesn't affect that.
The UK pound has dropped, but it'll regain its value in time. This may devalue clubs for foreign owners, but again as the pound re-surges so too will their assets. It also means that Premier League teams will become “less expensive” to potential foreign owners, which could actually be the catalyst for investment from potential wealthy investors.
Transfer fees for Premiership clubs are often staged in the pound, and the narrative that the drop in the pound will have a negative impact is a temporary worry. Furthermore, these worries are waylaid when we consider all 20 clubs will be earning from the new TV broadcasting domestic and international deals, worth nigh on $12bn over 3 years. This will leverage against the brief pound drop in these few weeks.
Britain has many foreign players – both from inside and outside the EU, and although some of them may experience an immediate depreciation to foreign currencies when they take their capital out of the UK, this may encourage them to keep and concentrate their earnings in the UK - a positive consequence considering the current predicament.
The ability for players to move freely to the UK from the EU isn't to do with the Schengen Agreement, which the UK isn't a part of, but because of the Bosman rule. The assumption the Bosman rule, which is a European Union law and it would no longer hold sway in Britain, is impulsive. In any negotiations regarding sports industries, with Britain having a large and robust sports economy, this rule would be sustained.
Also, as the UK wants to have a Swiss, Norwegian, or Icelandic association, access to the market and human movement is still guaranteed, though not all laws have to be implemented - only some. EU players are free to sign for British teams. Currently, non-EU players face a series of tests before qualifying for a work permit. These rules for non-EU players may change for the better as the UK will dictate more of its policies and not the EU. The UK isn't going to create a work permit system that disrupts its continuous pool of footballers wanting to enter the Premiership, and the clubs that want them.
Worries that non-UK Premiership players will struggle to stay in the UK as easily, or gain entry is nonsense. Why? Because the UK echelons seem to be scrambling to get a European Economic Area (EEA) or European Free Trade Association (EFTA) deal, or stall until September and U-turn on the legally non-binding referendum. Yes, that's right, non-binding.
The EEA agreement grants Norway, Iceland, and Liechtenstein access to the EU's internal market, but they don't participate in decision-making in Brussels, and the free movement of people, goods, services and capital still continues. If the UK wants access to the European common market (and it absolutely does) it'll have to accept free movement of people. This is non-negotiable! An EEA agreement, like many in the UK have espoused, means Britain has to accept a number of the EU’s regulations and that means movement, so no the EPL isn't ruined!
The virtues of the “Swiss model,” an array of bilateral agreements with the EU, might not be desirable as Swiss arrangements are static and don’t cover services, which are so central to Britain’s economy.
Thoughts that the Premiership won't be able to, or won't try to sign players like a young Cristiano Ronaldo, is far-fetched. Britain will dictate their own immigration policies if they're totally out of the EU, and if it's an EEA association, there'll still be freedom of movement and labor.
Premier League clubs spend a lot of money on scouting and recruiting EU qualified youngsters. That won't change if the UK enters the EEA or EFTA system. Additionally, many pundits have wanted the Premier League to focus developing “homegrown” talent for some time. That isn't a bad thing. The English and Welsh national teams could benefit, along with a reduction in the cost of importing foreign players.
The narrative about British players no longer benefiting from the EU's free movement, and their numbers diminishing in leagues like La Liga, Bundesliga, Serie A etc, is funny because the Premier League is the most competitive, wealthiest, and most desired European league. Why would they leave? As it stands they don't. What, 4 or 5 big name English and Welsh players in La Liga over the last 15/20 years - Gary Lineker, Steve McManaman, David Beckham, Michael Owen and Gareth Bale. Not that big a deal because let's be frank, not many English players get bought by La Liga, and not a great loss for Europe. Now, yes some European leagues like La Liga have a maximum quota of 3 non-EU players per club, but this will increase and retain the level of domestic talent in the Premiership, only increasing its competitive edge.
At Real Madrid, Welshman Gareth Bale is still an EU player. Britain is holding off on beginning negotiations and enacting Article 50. So for now, the Bernabeu doesn't have to worry about choosing between James Rodriguez of Colombia and Brazilian duo Danilo and Casemiro because they're reportedly offering Bale a 'contract for life'.
If any notion of a Premiership salary cap arises, this isn't a bad thing. EU regulation guarantees the free movement of capital and labor. Any hard salary cap contravenes that EU principle, and if the Premiership introduced one, this would only further financial sustainability and good governance, preventing any Barcelona/Real Madrid situation to arrive as these clubs are forever increasing player wages to unsustainable and ludicrous levels, consistently and irresponsibly straining club finances. It also protects clubs from a major loss if they pay outrageous money for a player who doesn't preform as expected.
Premier League clubs do now face a hike in prices, with millions potentially added to the price of players overnight when buying from Europe, but this doesn't change the wealth of the Premiership or it being a net importer, but rather creates a more realistic value, encouraging clubs to make calculated and precise investments instead of brash moves.
Players from EU countries will probably retain a 'favored' status, guaranteeing signings of players from outside the EU, if Britain doesn't enter into the EEA.
Either way, don't be impulsive, let the dust settle, somethings Brexit won't change, the health of football is one of them.