Dr Rob Wilson says Manchester City and Liverpool risk breaking so far away from the rest that it renders the competition a predictable yawn-fest.
Earlier this year the Premier League’s acting chief executive, Richard Masters, said domestic broadcast rights had dropped in value from £5.4billion to £5billion.
That came despite an increase in the number of games being sold.
And Dr Wilson, a Sheffield Hallam academic, believes this may be a sign fans are growing increasingly fed up with top-end teams spoiling unpredictability with their financial muscle.
Asked if he could see domestic interest wilting, he told Daily Star Online: “Yeah I do. Competitions are based on uncertainty of outcome and competitive balance.
“So us not understanding what the outcome of the game is going to be, that’s what drives our interest.
“The longer the status quo continues, the more obvious the results become so naturally the less attractive they will become to fans and broadcasters and that’s the key point”
“The longer the status quo continues, the more obvious the results become so naturally the less attractive they will become to fans and broadcasters and that’s the key point.”
Across Europe, the major leagues are being dominated by single teams.
A Cristiano Ronaldo-inspired Juventus won Serie A by 11 points, Barcelona by 11 points, PSG by 16 points and Bayern Munich by only two but in their seventh consecutive triumph.
But City’s Premier League win in May was the first time a side had won the title in two consecutive seasons since Sir Alex Ferguson’s Manchester United in 2009.
However, Dr Wilson believes financial fair play rules are likely to prevent any sides toppling the top teams.
He added: “If you put on a boring competition, like we’re starting to see across Europe in particular, people will ultimately start tuning out and switching their TVs off, not buying their TV subscriptions.
“Those broadcasters will naturally pay less to broadcast, so less money goes into the system, which is why we then hear things about European Super Leagues and that just solves a short term problem for those elite group of clubs.
“You probably end up with a more competitive home division, because you’re taking out those really big clubs, but then others will replace them.
“We analyse competitive balance in every single league in Europe.
“You have single team dominance in at least three of the five leagues with PSG,Bayern and Juve so those leagues are boring, which is why they don’t generate as much money with TV rights.
“Then you have this unique situation in the EPL where you have six clubs fighting for top, four or five at the bottom and then a group in the middle, so you almost get leagues within leagues.
“That’s what has retained the interest in the broadcasters, but they voted with the fee in the last round of rights by paying less.
“The Premier League expected that deal to go up, it didn’t it went down, and I think that was the first sign that we have probably got to a bit of saturation with some of the content, and people are being bored by it, the big clubs are so intensely arrogant, they think people tune in just to watch them.
“And while a certain demographic of fans do do that, most want to see their team competing with everybody, or at least winning and you don’t get that in the middle of the table.”
Despite the drop in domestic broadcast rights, overseas demand is booming with rights having risen by 8% to £9.2billion for the next three seasons.
Premier League action will be available on Sky, BT and, for the first time on a streaming service, Amazon.