Connect with us

Hi, what are you looking for?

Economy

Super League shelved

MANCHESTER, ENGLAND — The European Super League collapsed on Wednesday as eight of the 12 founding members from England, Italy and Spain abandoned the breakaway project under massive pressure from fans, politicians, soccer officials, and even the British royals.

Founder and Juventus chairman Andrea Agnelli told Reuters he was reluctantly calling time on the new league after six English clubs withdrew on Tuesday, with Inter Milan and Atletico Madrid following suit and AC Milan indicating they would, too.

“The voices and the concerns of fans around the world have clearly been expressed about the Super League, and AC Milan must be sensitive to the voice of those who love this wonderful sport,” the Italian club said in a statement.

However, Real Madrid president Florentino Pérez, the Super League chairman, struck a defiant tone, saying the project was not dead and he was still talking with AC Milan and remaining clubs Barcelona, Juventus, and Real.

“The project is on standby,” Pérez told Spanish radio program El Larguero. “We are going to keep working.

“I’m convinced that if this project doesn’t work, another similar one will.”

Agnelli said he still believed in the merits of the Super League despite the overwhelming criticism and had no regrets about how the breakaway had been conducted.

“I remain convinced of the beauty of that project,” he told Reuters.

Juventus itself conceded there were limited chances of the project being completed in its original form.

The Italian club said in a statement that clubs that intended to leave had yet to complete the necessary procedures under the Super League agreement.

Agnelli quit on Sunday as chairman of the European Club Association (ECA), which represents over 200 clubs. The ECA said Paris Saint-Germain president Nasser Al-Khelaifi would replace him, adding that recent events were a reminder that “owners are merely custodians of their clubs.”

‘RIGHT RESULT’
The Super League argued it would increase revenue for the top soccer clubs in Europe and allow them to distribute more money to the rest of the game.

However, the sport’s governing bodies, other teams and fan organizations said the league would only boost the power and wealth of elite clubs, and that the partially closed structure went against European football’s long-standing model.

Players, fans, pundits and politicians celebrated the U-turns of the English teams on Tuesday that left the league in tatters and pushed other founding members to jump ship.

“This is the right result for football fans, clubs, and communities across the country. We must continue to protect our cherished national game,” British Prime Minister Boris Johnson said.

Britain’s Prince William, president of the English Football Association, who had criticized the planned breakaway, said in a signed tweet: “I’m glad the united voice of football fans has been heard and listened to.”

The founding members were Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham Hotspur from England, AC Milan, Inter and Juventus from Italy and Spain’s Atletico Madrid, Barcelona and Real Madrid.

Barcelona had yet to comment on the Super League by late on Wednesday.

Two sources told Reuters the clubs that withdrew from the Super League could face breakup fees for backing out.

Inter Milan, Juventus and AC Milan will not be punished by the Italian Football Federation (FIGC) over their involvement in the Super League, FIGC chief Gabriele Gravina said.

Liverpool’s principal owner John Henry apologized in a video on the club’s website and social media on Wednesday.

“It goes without saying, but it should be said that the project put forward was never going to stand without the support of the fans,” he said.

“I, alone, am responsible for the unnecessary negativity brought forward over the past couple of days. It’s something I won’t forget. And shows the power the fans have today and will rightly continue to have.”

Manchester United’s co-chairman Joel Glazer apologized in an open letter to supporters for failing to show respect for the English game’s “deep-rooted traditions.”

“We continue to believe that European football needs to become more sustainable throughout the pyramid for the long term. However, we fully accept that the Super League was not the right way to go about it,” Glazer wrote. — Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

Virgin Orbit’s next satellite launch will take place from the UK, following the success of the “Straight Up” mission, which lifted off from Mojave...

Investing

Post Office collection and cash delivery workers are to stage a one-day strike later this month in a dispute over pay. Members of the...

Investing

UK consumers cut back on credit card borrowing in May amid fears over rising interest rates and a slowing economy driven by a cost...

Investing

London City airport is seeking to overturn its Saturday flight ban and raise by 40% the limit on its passenger numbers. A local residents’...

Investing

The bank said that it was introducing a £1,200-a-year pay increase from August 1, which would start to show in next month’s pay packets....

Investing

Postmasters caught up in the Horizon IT scandal say that they are still being “left in the dark” about a compensation package after the...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.