JP MORGAN LOAN INTERESTS KNOWN
The football clubs that promoted the Super League had agreed, in exchange for an initial injection of 3,525 million euros, to return almost 6,100 million In 23 years to the investment bank JPMorgan, reports this Friday the German weekly “Der Spiegel”. According to internal documents to which the publication has had access, these were the terms agreed by the 12 founding clubs – from the United Kingdom, Italy and Spain – in the 167-page framework contract of the Superliga.
Following the initial contribution from JPMorgan, the clubs agreed to pay the bank a total of € 264 million, including interest, annually for a total period of 23 years. The text ensures that the controversial initiative – which has collapsed in the face of criticism from fans, other clubs and UEFA's frontal opposition – seeks to please “fans around the world.”
The document further points out that the Super League was going to “inject significant new resources into football” and he emphasizes that 8% of television revenues, which he estimates at least 400 million euros per year, were to be used for charitable and solidarity purposes. The initiative, the framework contract concludes, will “offer notable advantages to amateur football and to football as a whole.”
Last Sunday the project of a dozen major European football clubs to create a Super League was announced, an initiative that from the beginning collided with the majority rejection of fans, footballers, uninvited teams and national and international federations. Since then, most of the promoters have more or less definitively dissociated themselves from the project, led by the president of Real Madrid, Florentino Pérez. – EFE