JP Morgan to back $6bn breakaway European Super League

JP Morgan Chase has confirmed it will finance the new $6bn (£4.3bn) European Super League breakaway football league, which will include six English clubs and three each from Italy and Spain.

The US investment banking giant said on Monday it was financing the venture but declined to state how much it was stumping up to create the proposed new league or when the competition would begin.

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“I can confirm that we are financing the deal but have no further comment at the moment,” the spokesperson said.

The bank is expected to provide about $6bn of funding to set up the league, which could start “as soon as practicable”.

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A statement from the European Super League said: “AC Milan, Arsenal, Atlético Madrid, Chelsea, Barcelona, Inter Milan, Juventus, Liverpool, Manchester City, Manchester United, Real Madrid and Tottenham Hotspur have all joined as founding clubs.

www.theguardian.com/business/2021/apr/19/jp-morgan-european-super-league

 

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