The Premier League is a corporation in which the 20 member clubs act as shareholders. Seasons run from August to May. Teams play 38 matches each (playing each team in the league twice, home and away), totalling 380 matches in the season. Most games are played on Saturday and Sunday afternoons; others during weekday evenings. It is currently sponsored by Barclays Bank and thus officially known as the Barclays Premier League and is colloquially known as the Premiership. Outside the UK it is commonly referred to as the English Premier League (EPL).
The competition formed as the FA Premier League on 20 February 1992 following the decision of clubs in the Football League First Division to break away from the Football League, which was originally founded in 1888, and take advantage of a lucrative television rights deal. The deal was worth £1 billion a year domestically as of 2013–14, with BSkyB and BT Group securing the domestic rights to broadcast 116 and 38 games respectively. The league generates €2.2 billion per year in domestic and international television rights. In 2014/15, teams were apportioned revenues of £1.6 billion.
The Premier League is the most-watched football league in the world, broadcast in 212 territories to 643 million homes and a potential TV audience of 4.7 billion people. In the 2014–15 season, the average Premier League match attendance exceeded 36,000, second highest of any professional football league behind the Bundesliga’s 43,500. Most stadium occupancies are near capacity. The Premier League rank third in the UEFA coefficients of leagues based on performances in European competitions over the last five years.
While 47 clubs have competed since the inception of the Premier League in 1992, only five have won the title: Manchester United (13), Chelsea (4), Arsenal (3), Manchester City (2) and Blackburn Rovers (1). The current champions are Chelsea, who won the title in 2014–15.