Soccer's Super League Crashes and Burns Day After Launch

Soccer's Super League Crashes and Burns Day After Launch
Rich Duprey, The Motley Fool
·2 min read

The breakaway soccer league financed by JPMorgan Chase (NYSE: JPM) is already in shambles a day after its creation following a massive backlash from fans, players, rival teams and leagues, and the British government. All six U.K. soccer teams, including Arsenal, Liverpool, and Manchester United (NYSE: MANU), have backed out of participating in the new Super League, and the Italian and Spanish teams are considering withdrawing as well. While the Super League was discussed as a possibility for months, it wasn't until the investment bank agreed to provide the teams with up to $6 billion in debt financing that it was able to lure enough clubs to make the break.