How much money will teams earn in European Super League? JP Morgan funding "Money League"

Earlier on Sunday, the European game was rocked by revelations that a number of leading clubs in the continent agreed to establish the 'Super League', a midweek tournament that will effectively be a direct competitor for the UEFA Champions League. UEFA has already warned the 12 clubs linked to a breakaway Super League that they face being banned from domestic and international competitions if they set up a rival to the Champions League. However, here's a look at the financial aspects of the Super League and why the European Super League teams are keen to form a separate 'elite league'. On Monday, it was confirmed that US banking giant JP Morgan will provide the financial backing for the European Super League teams.

European Super League format: Super League start date

In a joint announcement on Sunday, Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur, AC Milan, Inter Milan, Juventus, Atletico Madrid, Barcelona and Real Madrid laid out plans to form a breakaway competition, referred to as the Super League. The 'Super League', a proposed 20-team annual competition, is expected to see 15 top European clubs become permanent members, based on plans that were revealed earlier this year. The remaining five teams would vary each season, although the European Super League format and qualification method has not been determined.

The proposal of the Super League appears to be an 11th hour bid to derail sweeping Champions League reforms and the European Super League start date is expected to be 2024. However, football enthusiasts on social media were quick to react to the news of the Super League, with many opposing the decision from the top clubs in Europe. Even several pundits, including Man United legend Gary Neville, were left furious by the European Super League teams that agreed to form a breakaway league. 

UEFA and English, Spanish and Italian football authorities then issued a statement for the European Super League teams that read, "Teams participating in the Super League will be banned from playing in any other competition at domestic, European or world level, and their players could be denied the opportunity to represent their national teams."

How much money will teams earn in European Super League? JP Morgan confirm financing breakaway league 

On Monday, US banking heavyweights JP Morgan announced their plans to back the Super League as well. Reports from The Times suggest that JP Morgan will be providing a staggering $6 billion (£4.32 billion) to the European Super League teams finance the 'money league' and the European Super League prize money will also be a part of it. A scheme underwritten by US investment firm JP Morgan would involve an NBA-style format, releasing an “infrastructure grant” ranging from a reported $123 million (£89m) to $430 million (£310m) per club involved to cover losses during COVID-19, which answers the 'How much money will teams earn in European Super League?' query.

Image Credits - liverpoolfc.com / AP