Top European Soccer Teams Agree to Create a New Super League
A dozen of Europe’s most valuable and historic soccer clubs have agreed to form a breakaway league that would rival the Champions League. If it comes to be, it would upend the foundations and economics that have governed global soccer for nearly a century.
First reported by The New York Times, the move was confirmed on Sunday by the teams involved. Included among the group are some of the biggest clubs in global soccer: Atlético Madrid, Barcelona, and Real Madrid from Spain; Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, and Tottenham from England; and A.C. Milan, Inter, and Juventus, from Italy.
How it could play out:
To retaliate, the Union of European Football Associations (UEFA), who puts on the Champions League, could reportedly ban every club and player that participates in the proposed super league from all UEFA and FIFA competitions, which would include the World Cup. Though with these clubs potentially leaving, it could face massive financial losses due to refunds to broadcasters and sponsors, threatening UEFA's very existence.
The new league seems to be happening, however, whether UEFA likes it or not, as the money is looking all too real. ESPN has reported that JP Morgan will underwrite the league, with $6 billion to be distributed as loans to teams. UEFA has vowed to fight the league, for what it’s worth.