See leaked European Super League contract revealing clubs that pull out face a £130m ‘break-up fee’ meaning they haven’t left yet (photo)
Some interesting details of the European Super League contracts have been leaked online.
After 12 European clubs announced on Sunday April 18, plans to set up their own league, the European super league, there was a furious backlash from fans, players, managers and even politicians which resulted in the pull out of most of the clubs
On Friday morning, April 23, American investment bank JP Morgan announced it had pulled their £3.5billion backing of the Super League.
Also on Friday, after a meeting of UEFA’s executive committee, UEFA announced that the 12 clubs involved would not face any sporting punishment for the role in the scheme.
Now German media outlet, Der Spiegel has released a few pages of the 23 year contract document, which was agreed to by the Premier League’s ‘Big Six’ clubs as well as three clubs from Italy and three from Spain before the controversial announcement last week.
It reveals that clubs like Chelsea, Liverpool, Arsenal, Manchester United, Man City and Tottenham signed a 23 year contract with the ESL and clubs who decide to pull out face a £130million ‘break-up fee’ meaning they haven’t pulled out yet.
The details include that Barcelona and Real Madrid will both receive an extra €60million (£52m) each more than their rivals while member clubs have the right to exclusively broadcast a number of matches while a £130m fee will be paid by clubs who wish to withdraw from the competition.
The leaked contract details now explains why Real Madrid and Barcelona have still not officially withdrawn from the Super League.
One area of the contract is titled ‘Additional compensation for the first 2 seasons of the Super League competition’.
It goes on to say: ‘Barcelona and Real Madrid will be paid the additional fixed amount of €60m (£52m) each, payable in two equal instalments.
‘For this purpose, at the end of the first Super League season and at the end of the second Super League season, they will be paid €30m (£26m) each.’
Another part of the contract says that Super League clubs ‘will have the right to show four of their regular season games live per season “exclusively” on “core club platforms”‘, such as their website, club mobile application and TV channel.
It was also revealed that Arsenal, Bayern, Chelsea, Barcelona, Juventus, Liverpool, Manchester City, Man United, PSG, Real Madrid and Tottenham were due to earn 7.7 per cent of the initial payment given to founder members.