The Premier League’s ‘Big Six’ have already lost £ 8 million each for their involvement in the doomed Super League project and could face additional financial penalties.
After being announced on Sunday night, the breakout competition lasted less than 48 hours before it imploded on Tuesday. After widespread criticism and threats of sanctions, the English clubs involved lost their temper and withdrew.
Chelsea fans turned out to protest Chloe Knott – Danehouse / Getty Images
According to the Daily Mail, the damage may have already occurred. It is understood that all 12 founding members bought shares for £ 8 million in the competition, which would fund Super League infrastructure. But with the rebel clubs’ dream now, it is unclear or perhaps even unlikely that this money will be returned.
In addition, the clubs that support the project are likely to receive additional financial penalties. When they joined the Super League, they signed a contract that lasted at least three seasons. With that clause exceeded, they can be in line with significant financial penalties.
This part of the contract would prevent the rebels from losing their nerve. In the end, however, it was not enough. Since the plans were presented on Sunday evening, criticism of the project has been widespread.
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– 90min (@ 90min_Football) April 20, 2021
Players, managers and clubs not included in the project have all condemned the outrageous league, with supporters also staging demonstrations against the plans. All this eventually convinced the Premier League clubs to go back, but the story is far from over.
According to Stephen Taylor, head of sports teams at JMW Solicitors, JP Morgan – who mostly funded the multi-billion pound project – would prepare a legal challenge against the clubs that have backed out of the Super League.
“They will have taken legal advice at the highest level and signed contracts with clubs on the basis that they expect the clubs to undertake this,” he explained.
