American sports is pretty much the only thing that the US does that is more socialist than Europe. The English football league system is the model of capitalism, a few incredibly wealthy teams taking a vastly disproportionate amount of the money which leaves a much larger pool of teams barely getting by and with no hope of ever challenging the lucky few at the top.

It helps the US massively that their sports teams are state based rather than City/town based, the English cricket league is far more similar to the US system than it is to the Premier League because it's based on counties who are if not equal size, then big enough to challenge given the right circumstances. There is no way Kettering Town is ever going to be able to compete with Liverpool due to the vast difference in size of the place the club is based. Largely this is avoided when you base your clubs on states/counties.