JP Morgan admits they underestimated the impact of the Premier League on football

Madison Gordon 4 years ago 2 min read

04/23/2021 – 12:59 Updated: 04/23/2021 – 13:45

It remains to be seen what evaluation he will do JP Morgan In the Premier League crisis. A competition that started on Sunday, in which the founding members were dissolved by the departure of the six English clubs due to political pressure from fans and football organizations. GB Morgan Bank of America is the entity that was going to finance this project, and that it has Florentino Perez as president. Make his position official before feeling a failure. He said in a statement that he had “misjudged” the implications of the birth of the new competition around the world: “It is clear We underestimate what this deal looked like In the football community as a whole and how it will affect it in the future. We will learn from this. ”

JP Morgan was ready to put him on the table A loan of 3,983 million euros To start the competition. Football clubs that have promoted the Premier League have agreed, for an initial infusion of 3,525 million euros, to return nearly 6,100 million in 23 years to JP Morgan, the German weekly Der Spiegel reported on Friday.

Photo: Alexander Ceferin, President of UEFA. (EFE)

Alexander Ceferin, the “ghoul” who wins 2.2 million euros and fights with Florentino

Ulysses Sanchez Flor

According to the internal documents that the post had access to, these were the terms on which it was agreed 12 Foundation Clubs (Six from the United Kingdom, three from Italy, and three from Spain) in the 167-page Premier League framework contract. After the initial contribution from JP Morgan, the clubs agreed to pay the bank a total of € 264 million, including interest, annually for 23 years.

Clubs apology

Last Sunday, the project of dozens of major European football clubs to create the Super League was announced, an initiative that has, from the start, been rejected by the majority of fans, football players, uninvited teams and national and international federations. since then, Almost all drivers were disconnected More or less definitively from the project.

Moreover, in England, the owners of the largest clubs participated They publicly apologized to their fans For not hearing your opinion before entering the new competition. In Spain it was Atletico Madrid Who also addressed the masses with a statement. Real Madrid continues to believe in the project as the only solution to recover from the losses of the epidemic and face the changes that football needs. Barcelona, with Laporta at the head, backs Real Madrid.