clock menu more-arrow no yes

Filed under:

JP Morgan Pull Their Backing For The European Super League As AC Milan Position Remains Murky

The ESL is in the dump but it is still not clear if Milan exited or shelved it.

Ireland Set To Reintroduce Tougher Restrictions Photo by Artur Widak/NurPhoto via Getty Images

The main reported financier of the European Super League, American banking giant JP Morgan have now distanced themselves from the project. In a statement released yesterday, the bank stated via CNN:

“Clearly we have misjudged how this agreement would have been seen by the football community and what impact it could have had on them. in the future. We will learn from this.”

When asked if the ESL project was dead, Florentino Perez via MilanLive.it has said,

“No it is not. They say that Juve is gone, but that’s not the case. Milan, too, did not come out. The English are still inside, like Barcelona. We are all inside, also because to get out you have to pay a penalty and so far no one has pulled out the money.”

La Gazzetta dello Sport via MilanLive.it are reporting that AC Milan’s President Paolo Scaroni made sure to include a clause in the contract between the club and the ESL that Milan would only join if approved by the FIGC in Italy and UEFA in Europe. This means that the Rossoneri have some protection over the reported fines for exiting the ESL despite Perez’s claim of Milan remaining in.

Alexander Ceferin to AP via Fabrizio Romano: “Real Madrid, Barcelona, Juventus and AC Milan will have to decide whether they are Super League clubs or European clubs. If they say we are a Super League, then they don’t play Champions League of course”.