JP Morgan maintain ESL dreams by funneling €40billion into the project

Back in April, US investment bank, JP Morgan threw its support behind the European Super League by approving a loan of €40 billion (£34 billion). This substantial amount, however, has not yet been cancelled despite the backlash from fans and players alike. So what does this mean for the European Super League, is there still hope that it might still happen?

Unbreakable contract
Real Madrid President, Florentino Perez, seems to think so. Clubs who break their contract with the ESL are expected to compensate Mr Perez by millions of euros. ‘They cannot leave’ he told the media ‘I don’t need to explain what a binding contract is’. Perez, who is named chairman of the newly formed league, is still pushing on despite worldwide outrage. On 31st May, the league even went so far as to file a complaint to the European Courts of Justice against UEFA and FIFA for their attempts to stop the league.

JP Morgan have admitted that they may have ‘misjudged’ the attempt to bankroll the new league and have promised to ‘learn from this’. What that means exactly may be up for interpretation as it seems the league will still happen as the loan has not been cancelled. Some sources close to the super league even go as far to say that none of the 12 clubs originally have officially abandoned the league despite their statements.

Hefty fines
Six English clubs have agreed to pay a combined sum of £22 million to settle the dispute over their decision to leave the league. Despite the threats, three clubs still associated with the league (Juventus, Real Madrid and Barcelona) have been admitted to the Champions league despite the belief that UEFA would ban them from participating.

FIFA have made it clear that they are against breakaway competitions like the Super League. This statement comes alongside the news that FIFA are also considering plans to hold the World Cup every two years in an attempt to make football a more globally competitive sport, something that FIFA believe the ESL could restrict.

Still standing
La Liga President, Javier Tebas, strongly opposes the ESL but doesn’t believe the project has died. Although the format as we know it may be paused, he believes the idea will live on as it still remains an ultimate goal for some clubs.

He also criticised FIFA president, Gianni Infantino, over claims that he was in talks with clubs regarding the proposal before it was announced to the world. Infantino has denied that these talks were in any way in support of the league but it raises eyebrows as to why this news was kept a secret.

We are yet to know the overall outcome but this could make for some tense viewing as we watch the legal back and forth between the ESL and anyone who dares to step in their way. Regardless of whether or not it goes ahead, English fans are overwhelmingly against such a league that they feel demonstrates ignorance to the true meaning of football. Despite the opposition, if the league continues, there are doubts as to whether fans can actually stomach the thought of buying a ticket.