Since the announcement of the project, loan rates have increased while football officials blocked the future tournament
European Super League preparing a lawsuit against UEFA for the amount 3.5 billion euros due to financial losses that occurred due to the blocking of the tournament.
The delay in launching the project due to pressure from football officials led to dire financial consequences. The Super League agreed on a loan from JP Morgan at 2.8% per annum for the start of the tournament. Under current circumstances, it will not be possible to obtain it for less than 6.3%, which entails huge losses.
The next claim will concern lost profits from the sale of television rights. According to Super League estimates, 30% of scheduled matches have already been lost, and this number will increase to 90% by 2025, when the project is planned to be launched again. Here, lost profits range from $700 million to $1.2 billion, depending on additional sponsorship contracts. The League also takes into account revenue from tickets at stadiums separately.
In addition to financial claims, the Super League believes that UEFA is not fully complying with the requirements of the Supreme Court of the European Union. The organization believes that UEFA President Aleksander Ceferin continues to abuse his monopoly position. Also in the Super League they are unhappy with Čeferin’s attempts to introduce an amendment that would allow him to hold office beyond the established period.
Let us remind you that the Supreme Court of the European Union declared the decisions of FIFA and UEFA to block the Super League illegal. The court declared that football officials had violated competition laws.
The organizer of the new tournament, A22 Sports Management, quickly responded to this. A new tournament will be created for men’s and women’s teams. The competition will take place mid-week. Participants will be determined by sporting merit, taking into account promotion and relegation and without permanent members. Fans will be able to watch live matches for free on a new state-of-the-art digital streaming platform.
In 2021, UEFA and FIFA opposed the creation of a Super League. The functionaries threatened exclusion from the European Cups for those clubs that will participate in the new tournament. UEFA President Aleksander Čeferin said the project was completed “for the next 20 years.”
Source: Sportarena
I’m Scott Moore, a professional writer and journalist based in the US. I’ve been writing for various publications for over 8 years now, and have been working as an author at athletistic for the past five years. My work has been featured by some of the leading sports websites and magazines across Europe.
