The European Super League Debacle
Earlier this week, 12 teams were ready to break off from their respective leagues to join the European Super League. It wreaked havoc all over the world and social media. The idea was to get the best clubs and the best players to compete against each other. The 12 teams consisted of 6 teams from England (Manchester United, Manchester City, Liverpool, Chelsea, Arsenal, Tottenham), 3 teams from Italy (Juventus, Inter Milan, AC Milan) and 3 teams from Spain (Atletico Madrid, Real Madrid, Barcelona). These teams were the "founding clubs". JP Morgan were willing to back the league with a $5 billion investment. The overall league was planned to have 20 teams with the other 8 being selected on the basis of performance and respective league difficulty (UEFA club coefficient ranking). The financial implications of this league would have been huge. All 12 clubs are in the top 16 of the most valuable clubs. Their combined value is about $35 billion. The founding clubs would have receiv