American investment bank JP Morgan have confirmed they are financing the ‘European Super League,’ according to BBC.
The figures involved are simply humongous. Although they are yet to be confirmed by JP Morgan..
It is believed that the bank will supply up to $6 billion in debt financing for the Super League.
Each of the 12 founding members will receive between €100m and €350m just for agreeing to take part. That means Liverpool could bag a massive payday for their involvement.
Liverpool owner John Henry was named yesterday as one of the Vice-Chairmen of the Super League board.
It is projected that clubs could earn as much as €200m per year for participating in the Super League as opposed to the €60-70m they make yearly from the Champions League.
However, the Reds also stand a risk of getting banned as both UEFA, the Premier League and FIFA have condemned the Super League idea.