Monday April 19 2021
JP Morgan to finance Super League

JP Morgan will finance the Super League, a spokesman confirmed.

“I can confirm that we are financing the deal but have no further comment at the moment,” a JP Morgan spokesman told Reuters.

On Sunday night, the Super League was announced by 12 elite European clubs, including Juventus, Inter and Milan.

The clubs announced the Super League would “provide significantly greater economic growth and support for European football via a long-term commitment to uncapped solidarity payments which will grow in line with league revenues.

“These solidarity payments will be substantially higher than those generated by the current European competition and are expected to be in excess of €10 billion during the course of the initial commitment period of the Clubs. In addition, the competition will be built on a sustainable financial foundation with all Founding Clubs signing up to a spending framework,” the statement continues.

“In exchange for their commitment, Founding Clubs will receive an amount of €3.5 billion solely to support their infrastructure investment plans and to offset the impact of the COVID pandemic.”

An emergency Lega Serie A meeting is ongoing and Inter, Juventus and Milan are attending it. Click here to get all the latest updates about the Super League.