If it was just the Premier League in this country then I'd be very tempted to say, fuck them, let them do it.
It will be another nail in the coffin of football as we all grew up with, but it's, if not in it's death throes, then certainly in the early stages of something terminal anyway.
Trouble is, the snowball effect of promotion / relegation means that ALL football will have to follow suit, and I really don't want that.