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US bank JPMorgan says financing football Super League

Outside the JPMorgan Chase headquarters building on Park Avenue in Manhattan, May 8, 2020.
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LONDON, United Kingdom — US investment bank JPMorgan on Monday confirmed it is financing the breakaway Super League featuring 12 of Europe’s top football clubs, which threatens to shake-up the world’s biggest sport.اضافة اعلان

“I can confirm that we are financing the deal, but have no further comment at the moment,” a bank spokesman said in a statement to AFP.

Each of the clubs from England, Italy and Spain will receive a one-off payment of 3.5 billion euros ($4.2 billion).

Six Premier League teams — Liverpool, Manchester United, Arsenal, Chelsea, Manchester City and Tottenham — are involved, alongside Real Madrid, Barcelona, Atletico Madrid, Juventus, Inter Milan and AC Milan.

The clubs were immediately accused of greed and cynicism and threatened with international exile.

Organizers said in a statement that three more founding members would be announced, with a further five places up for grabs through a qualifying system each year and the inaugural edition to start as “soon as practicable”.

The Super League announcement appeared to be timed to pre-empt UEFA’s own scheduled unveiling of reforms to the Champions League on Monday, with an expansion to 36 teams from 32 and two ‘wildcard’ slots expected to be among the plans. There would be a minimum of 10 games for each team.

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