The borrowed interests of JPMorgan are well known
The football clubs that have promoted the Premier League have agreed, for an initial infusion of 3,525 million euros, to return nearly 6,100 million euros. In the space of 23 years for investment bank JP Morgan, the German weekly Der Spiegel published Friday. According to the internal documents obtained by the publication, these were the terms that the twelve founding clubs – from the United Kingdom, Italy and Spain – agreed to in the 167-page framework contract of Superliga.
After the initial contribution from JPMorgan, the clubs agreed to pay the bank a total of € 264 million, including interest, annually for 23 years. The text guarantees that the controversial initiative – which has collapsed in the face of criticism from fans and other clubs and opposition from UEFA – seeks to satisfy “fans around the world”.
The document also indicates this The Super League would inject “important new resources into football” He asserts that 8% of television revenues, estimated at no less than 400 million euros a year, were used for charitable and solidarity purposes. The framework contract concluded that the initiative “will provide significant advantages for amateur football and football as a whole.”
Last Sunday, a project by ten major European football clubs to create the Super League was announced, an initiative that from the start was rejected by the vast majority of fans.And soccer players, uninvited teams, and national and international federations. Since then, most of the promoters have permanently withdrawn from the project, led by Real Madrid president, Florentino Perez. – EFE
