Twelve European clubs have announced to break away from the European football governing body, UEFA, and form their own European Super League. The news shocked the football world as football governing bodies, UEFA and FIFA, condemned the decision of the twelve clubs and threatened to ban them from domestic, national, and international competitions.
Twelve clubs include six English clubs, Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham Hotspur, three Spanish clubs, Real Madrid, FC Barcelona, and Atletico Madrid, and three Italian clubs, Juventus, AC Milan, and Internazionale (Inter Milan).
The owner of Real Madrid, Florentino Perez, Manchester United owner, Joel Glazer, Juventus owner, Andrea Agnelli, Arsenal owner, Stan Kroenke, and Liverpool owner, John Henry are at the forefront of the new breakaway league, with Perez appointed as the president, while the other four will be the vice-president of the European Super League.
The league will be financed by the American investment bank, JP Morgan Chase & Co., which has committed to finance $3.25 billion to start the new league. The twelve clubs are rumored to be offered a $200-300 million welcome bonus as well.
Other big clubs including, Bayern Munich, and Paris Saint-Germain (PSG), were also rumored to be a part of the breakaway but they refused to be a part of it. According to the rumor mill, both the clubs wanted to be a part of the European Super League, but due to various reasons, they decided against it.
PSG is owned by the ruler of Qatar through state-owned Qatar Sports Investment, and as the next FIFA World Cup is set to be played in Qatar, they decided not to jeopardize their investment.
Munich, on the other hand, is not owned by a single owner. According to Germany’s 50+1 rule, the majority of the stakes are owned by the fans. Therefore, Munich opted out of the European Super League as well.
The twelve clubs have claimed that they will form their own football governing body, which will govern the new European Super League.
The proposed European Super League will be played during mid-week, with the domestic leagues continuing on the weekends. The twelve clubs will play against each other every week, which will bring in a lot of revenue for all of the parties involved.
There is still a lot of uncertainty about the format, the rules, and regulations of the new breakaway league, but one thing is for sure, this historical move will change the landscape of football in the world forever.