Spain’s La Liga remains in the spotlight as it strives unsuccessfully to close the gap on the English Premier League (EPL) as the world’s most valuable football property for TV rights. But this is really a story of a bubble inside another bubble and does not entirely reflect the global picture, which varies between countries and with the choice of sport. There is clear evidence that longstanding gains in TV audiences for the big premium sports, primarily American football, baseball and basketball in the US and soccer football elsewhere, have tailed off or even reversed. Yet it is only football rights prices in Europe that have stalled or even slipped in the latest rounds covering the next few seasons and…