The European Football scene was hit early this week with news of the European Super League announcement, with 12 teams from 3 European nations, namely England, Spain, and Italy confirming their participation, with no representatives from Germany and France.
The founding teams were AC Milan, Arsenal, Atlético de Madrid, Chelsea, FC Barcelona, FC Internazionale Milano, Juventus, Liverpool, Manchester City, Manchester United, Real Madrid and Tottenham Hotspur.
The league, which would have hosted Europe’s richest clubs except for Bayern and Dortmund, got news of a financial boost as JP Morgan Chase, a US investment bank, also announced on Monday that it is funding the new season of the breakout league, the European Super League in a €4 billion ($4.8 billion) bet. The teams in the league were expected to share €3.5 billion ($4.21 billion) to spend on infrastructure and rehabilitation from the COVID-19 pandemic by a private corporation that will own the league.