I'd like this a lot, too, mustardpower. PLF and I have had some good threads on it.
Unfortunately, I think its been prioritized pretty low, because its unlikely to come up in most games: the average gamer plays one team, and 5 or fewer seasons ..
.. to get significant changes in reputation and TV revenue I think you'd need to play through 20 or more seasons and have more than one team achieving success. This would most likely happen in multiplayer games, but could also happen with a careful human club-manager or international-manager doing his level best to help the other clubs in his league.
But that does mean its "a lot of work" which will benefit only "a few hardcore players", so its been a lower priority than other features.