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JP Morgan mea culpa on his decision to participate in the Super League project announced on the night between 18 and 19 April by 12 of the major European football clubs, including the Italian Juventus, Milan and Inter. Project that collapsed after about 48 hours.
“We clearly misplaced our accounts on how this agreement would be received by the wider football community, and the consequences it could have in the future,” said a source from the US bank. , according to reports from the CNBC.
JP Morgan had made available funding for the football clubs participating in the initiative for a value of 3.5 billion euros, in order to finance infrastructure costs and recovery from the impact of the Covid-19 pandemic.