New York — JPMorgan Chase is bankrolling the biggest upheaval of European soccer since the 1950s in a €4bn bet that has already drawn heavy criticism from fans, domestic leagues and politicians.
The US investment bank agreed to underwrite an initial €3.5bn investment to help a group of the world’s richest soccer clubs set up a top-tier Super League, a figure that will total €4bn after additional payments and expenses, according to a person familiar with the matter. The investment, 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 private...
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