The breakaway competition has sparked huge controversy in the footballing world.
on Sunday confirmed 12 European clubs have agreed to join a breakaway competition called the European Super League. The competition is set to be held with 20 clubs, including 15 founding clubs and an additional five clubs that qualify based on their previous season’s performance. According toDiario AS
, who are the current presidents ofReal Madrid
respectively, are the architects of the new competition.
It has been reported that American investment funds including JP Morgan are involved in the financial banking of the project. European football has been hit hard by the financial effects of the pandemic and the Super League members hope to compensate for their losses by accepting the lucrative offer of the new tournament. The founding members of the Super League will get an initial fee of €350m per club plus an emergency fund of €3.5bn. The participating clubs have already resigned from the European Club Association (ECA) which shows their determination to push forward with their controversial plan. However, the FIFA and UEFA officials have threatened to ban the players of the Super League clubs from playing in their tournaments. It remains to be seen, how the international and domestic football authorities plan to stop the European Super League as it casts doubt on the future of football as we know it.