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4/23, 11:48 AM (Source: TeleTrader)
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JPMorgan admits mistake in financing Super League

JPMorgan Chase & Co. stated on Friday that it "clearly misjudged" the impact of its decision to finance the Super League. The European football competition has been highly controversial ever since it was announced on April 18. After backlash from fans and athletes, all six English clubs decided to withdraw, effectively ending the league.

"We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future. We will learn from this," the company stated. It originally pledged $6 billion in debt financing for the competition.

Breaking the News / DJ