The idea of a European Super League has been around for some time, but the latest proposal has clearly got Fifa and Uefa rattled. Fifa chief Gianni Infantino has stayed neutral on such proposals in the past. It is unusual for them (and the other confederations) to issue a joint statement: https://www.fifa.com/who-we-are/news/statement-by-fifa-and-the-six-confederations
Fifa has threatened that any player taking part would be barred from the World Cup or the European Championship. However, could Fifa hold the line if world class players decided to play in the Super League anyway? The World Cup would then be devalued, hitting Fifa hard in the pocket.
The European Leagues have also issued a statement supporting the stance taken by Fifa: https://www.soccerex.com/insight/articles/2021/european-leagues-issue-statement-on-european-super-league
JPMorgan has backed plans for a super league featuring 20 clubs. 15 massive clubs would be there permanently in accordance with the American model of no relegations. Five places would be available each season for qualifying teams.
According to a report in The Times, six English clubs would be offered up ro £310m each by JP Morgan to join the breakaway league and could earn as much as £213m a season from it.
Football Supporters' Association chief executive Kevin Miles said: 'This is the most advanced proposal we've yet seen for a potential European Super League and it's something that should be of grave concern to supporters up and down the game.'
With interest rates at historically low levels, JPMorgan sees an opportunity in football. Manchester United's owners and JPMorgan have had a longstanding relationship.
Investors from the US and elsewhere want a steady return on their investment and a 'closed' model without relegation makes that more likely.
Real Madrid Florentino Perez is the leader of the plan, but it has been discussed with the Glazer family. Other owners of soccer franchises in Europe have also been involved. Earlier this week Perez had a three hour meeting in Turin with Juventus chairman Andrea Agnelli.
Covid-19 has given a new impetus to the Super League proposal. Top clubs have been announcing big losses so playing against each other more is one route back to solvency. The plan may be particularly attractive to clubs like Arsenal who have seen their top six rating in jeopardy.
One note of caution: it doesn't matter if clubs are losing money if they have benefactors who are prepared to fund the losses and/or they can borrow money. That adds to their debt pile, but that is not a concern as long as they can get reasonable interest rates and service the debt.
It should be noted that the 2018/21 distribution deal for the Champions League favoured the richest clubs. With the biggest share of the money reserved for the clubs reaching the group stage, the likes of Bayern Munich and PSG were given a head start on their rivals domestically.
The new Champions League format would see a league of 36 in which the clubs play ten games, five at home, five away (replacing the eight groups of four). The top 16 would progress to the knockout rounds.
As for Fifa, they want to make the Club World Cup a competition that goes beyond Europe and South America, Every four years there would be a 24 team competition. The first one was supposed to be held in China this summer, but this is no longer possible because of the pandemic and an increasing view in the west that China needs to be faced down.
A Super League, even if it still called the Champions League, is more likely than not. There is a risk that fans would get bored with the cavalcade of stars and that in turn the broadcasters would find it a sterile product. Money talks, one way or the other.
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