It's not the Premier League, its an old government ruling. It was put in place to prevent attendances from dropping due to the expansion of televised games.
Its not a government ruling, its a football league ruling:
In the 1960s,
Burnley F.C. chairman
Bob Lord successfully convinced fellow
Football League chairmen that televised matches on a Saturday afternoon would have a negative effect on the attendances of other football league games that were not being televised and as a result reduce their financial income.
As a result,
the FA,
Premier League and
Football League do not permit English matches to be televised live between 2:45pm and 5:15pm on a Saturday within the
United Kingdom. Until recently, the FA Cup Final was an exception and was broadcast at 3pm on a Saturday in May; however, in 2012, the FA Cup Final was moved to 5pm.
And its also a flawed proposition:
It is, in fact, doubtful whether closed periods are capable of encouraging attendance at matches and participation in matches. Both activities have a completely different quality to the following of a live transmission on television. It has not been adequately shown to the Court that the closed periods actually encourage attendance at and participation in matches. Indeed, there is evidence to refute this claim: for example, in an investigation of the closed periods under competition law the Commission found that only 10 of 22 associations had actually adopted a closed period. No closed periods were adopted in France, Germany, Italy and Spain, or in Northern Ireland, that is to say, within the sphere of influence of English football.
Advocate General Kokott of the
European Court of Justice[39]