The formation of the new European Super League will see the founding clubs split €3.5bn between them just for signing up, but where is that money coming from?
It seems daft to be asking where the money is coming from for a project that involves so many billionaires but they are billionaires because the last thing they ever want to do is use their own money to pay for anything.
Somebody else has got to stump up the cash. That’s how the rich do it.
The statement from the 12 clubs said: “Founding clubs will receive an amount of €3.5bn solely to support their infrastructure investment plans and to offset the impact of the Covid pandemic.”
It added: “The new annual tournament will provide significantly greater economic growth and support for European football … and [solidarity payments] are expected to be in excess of €10bn during the course of the initial commitment period of the clubs.”
In this case, the money is being provided initially by JP Morgan, “a global leader in financial services, offering solutions to the world’s most important corporations, governments and institutions in more than 100 countries”.
The founding clubs expect the new European Super League to generate around €4bn-a-year just from broadcasters. They will then, of course, have match day revenue, merchandise and other commercial avenues to exploit.