That's effectively a cartel as well. You can't just set up a team and join the EPL.

But you can go from a lower division to the premiership its not a closed shop with no penalty for failure in the way the American football teams are.

For example Leicester's run from third tier to the championship 09 - 16

Sure, it's a bit different from the US sports. But you still cannot just set up a business and compete. You'd either start at the bottom of the football pyramid, meaning a multiyear barrier to entry, or you buy a club, which is paying an incumbent for their seat.