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4/19, 10:26 AM (Source: TeleTrader)
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JPMorgan confirms it will finance European football Super League

JPMorgan Chase & Co. confirmed to Sky Sports on Monday it will finance the newly revealed European football Super League.

The American investment bank did not comment on earlier media reports that claimed it will provide $6 billion in debt financing for the new competition, which will initially include 12 European clubs with an additional three to be announced soon. The teams, describing themselves as "Europe's leading football clubs," said in a joint statement last night that the league will begin "as soon as practicable".

UEFA, the English Football Association, the Premier League, the Royal Spanish Football Federation (RFEF), LaLiga, the Italian Football Federation (FIGC) and Lega Serie A have all voiced their opposition to the new league. Meanwhile, UEFA was expected to unveil its own changes to all of its club competitions later in the day regardless of the breakaway league announcement.

Breaking the News / MS