The Super League clubs agreed to return 6.1 billion to JPMorgan

The football clubs that promoted the Super league they 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 -of UK, Italy and Spain– in the framework contract of 167 pages of the Super League.

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 also points out that the Super League was going to “inject significant new resources into football” and underlines that 8% of television revenues, which it estimates at least 400 million euros per year, were going to be dedicated to charitable and solidarity purposes.

The initiative, concludes the framework contract, 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.