JPMorgan bets $4.8 billion on disrupting European football; draws flak

The clubs have signed a binding agreement to commit to remaining part of the Super League for a set number of years

JPMorgan Chase & Co is bankrolling the biggest upheaval of European soccer since the 1950s in a $4.8 billion bet that has already drawn heavy criticism from fans, domestic leagues and politicians. The US investment bank has agreed to underwrite an initial 3.5-billion-euro investment to help set up the Super League, a figure that will total 4 billion euros after additional payments and expenses, according to a person familiar with the matter. The investment, currently financed by JPMorgan, may be offered to investors at a later date, the person added, asking not to be identified as the discussions are still