<div id="readability-page-1"><div><article id="article-container-0"><div><div><div><div><div><div><p>Editors' Pick<span>|</span><time>Apr 19, 2021,</time><span><time>09:27am EST</time></span><span>|</span><span></span></p></div></div></div></div><div><div><div><p></p></div></div></div><div><div><h2>Topline</h2> 
<p>A coalition of the world’s richest soccer clubs announced plans to form a breakaway European Super League Sunday, one of the biggest financial and logistical shake-ups to the sport in decades that draws similarities to the U.S. franchise structure and has sparked outrage among fans, reprisals from domestic leagues and threats of legal action — here’s why  a dozen clubs have gone rogue.</p> 
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   <p>A Tottenham Hotspur's fan holds an anti-European Super League placard . (Photo by Tolga Akmen / AFP) <span>... [+]</span><span> (Photo by TOLGA AKMEN/AFP via Getty Images)</span></p> 
   
  <small>AFP via Getty Images</small> 
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<h2>Key Facts</h2> 
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 <p>The long-rumored league, made up of 12 English, Spanish and Italian soccer clubs, who are set to be joined by three more clubs, is expected to kick off in August. </p> 
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  <p>Florentino Pérez, the president of Real Madrid CF and the group’s first chairman, said the league will “help football at every level and take it to its rightful place in the world,” as befitting a sport with four billion fans. </p> 
   
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  <p>European officials strongly condemned the proposals, with the sport’s governing bodies across the continent condemning the “self-interest(ed)” and “cynical project.” </p> 
   
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 <p>Domestic leagues have threatened to bar participating clubs from competing and FIFA, the sport’s global governing body, warned players in January that they may be blocked from the World Cup if the breakaway league goes ahead. </p> 
 <p>Even world leaders have criticized the move, with British Prime Minister Boris Johnson and French President Emmanuel Macron both vowing to block the league in its current form and describing it as damaging to the sport and fans. </p> 
 <p>The clubs involved are: England's Manchester United, Liverpool, Manchester City, Arsenal, Chelsea and Tottenham; Spain's Real Madrid, Barcelona and Atletico Madrid; and Italy's Juventus, AC Milan and Inter Milan.</p> 
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<h2>Chief Critic</h2> 
<p>UEFA, the sport’s European administrative body, president Aleksandr Ceferin described the plans as &#34;disgraceful,&#34; &#34;a spit in the face for all football lovers&#34; and “fueled purely by greed.” He said the body will be taking “all the sanctions that we can,” adding that if it were up to him the players would be banned from all their competitions. It’s unsure what form any retaliation might take—Ceferin said they are still assessing the situation with their legal team—and how severe it might be. With political threats from the EU, Johnson and Macron as well, there may also be legislative efforts to prevent the Super League’s formation. </p> 
<h2>Big Number</h2> 
<p>€3.5 billion ($4.2 billion). The Super League confirmed that each founding member would share this much to support infrastructural development and offset the impact of the Covid-19 pandemic. The investment is bankrolled by JPMorgan Chase.</p> 
<h2>Key Background</h2> 
<p>In Europe, soccer, known locally as football, is played mostly in domestic leagues. Continental play is reserved for the top clubs in those leagues, with the most prestigious being the Champions League. In its current format, small clubs are able to share in the revenue some of the big clubs draw and even relatively obscure clubs can win major prizes. The new format would guarantee 15 of the richest teams a position in the league no matter their performance, something fans and players have criticized, though the new league insists will give fans a “regular flow of headline fixtures.” A women’s super league is also in development. This will  help “to advance and develop the women’s game,” according to Chelsea, one of Europe’s most successful football clubs.</p> 
<h2>What To Watch For</h2> 
<p>Shares for rebel clubs have jumped following the announcement. Juventus is up 16% and Manchester United nearly 10% (premarket) at the time of writing. Even clubs not affiliated with the league are seeing a boost.  </p> 
 
<h2>Further Reading</h2> 
<p>European politicians slam breakaway football ‘super league’ plan (Politico)</p> 
<p>European Soccer Group Proposes Radical Breakaway League (Bloomberg)</p> 
 
</div><p><span>Follow me on </span>Twitter. <span>Send me a secure tip</span>. </p><div><div><p></p></div><div><div><p>I am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a</p><p>…</p></div></div></div></div></div></div></article></div></div>

<p>JPMorgan is bankrolling the League to the tune of more than $4 billion, despite the new alliance being condemned by fans, politicians, players, clubs and politicians.</p>

Shares Rise, Outrage Kicks Off As Europe’s Biggest Soccer Teams Plot Breakaway ‘Super League’