OWNERS of the Premier League Big Six clubs have lost out on £8MILLION each after the European Super League collapsed – and now all face huge fines.
The controversial breakaway competition was announced on Sunday, with 12 European giants signing up – before it collapsed by Wednesday morning.
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham joined Atletico Madrid, Barcelona, Real Madrid, AC Milan, Inter Milan and Juventus in the midweek tournament.
Each club purchased around £8m in equity stakes in the European Super League – set to be used to help negotiate broadcasting deals, commercial contracts and to cover legal fees.
Reports claim the contracts signed by the ‘dirty dozen’ would have been strongly geared towards them sticking with the project through thick and thin.
That means the 12 clubs – including the Premier League Big Six – are now unlikely to be able to reclaim the £8m up-front payment AND are set to face monster fines.
It’s believed the English clubs will be hit in the pocket rather than be punished via points deductions or exclusion.
On top of that, Man Utd were just one club to see their share price plummet amid the controversy.
The Premier League sides could also be forced to pay compensation for being in breach of their 23-year ESL contract which states they cannot leave within the first three years.
They lasted less than three days.
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Ironically, the very project owners hoped would make them even richer has instead backfired and could cost them tens of millions of pounds apiece.
The clubs were subjected to an incredible fan backlash following Sunday’s shock announcement.
Chelsea pulled out, quickly following by City and then the remaining four Premier League clubs.
Atletico Madrid and Inter Milan have also officially withdrawn, with AC Milan and Barcelona believed to be set to follow suit, leaving just Real Madrid and Juventus.
Andrea Agnelli – the Juve chairman and one of the ESL ringleaders – admitted the proposed European Super League was dead in the water after clubs pulled out one after the other.
When asked if it could still go ahead, Agnelli claimed: “To be frank and honest no, evidently that is not the case.
“I remain convinced of the beauty of that project.
“But admittedly I don’t think that that project is now still up and running.”
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Source: Soccer - thesun.co.uk
