European Super League: How much do clubs stand to earn? Where is the money coming from? And will the rest of football be worse off?
The driving force behind plans for a new European Super League is money – specifically, the chance to make more of it.
But exactly how much money do the six English clubs involved – Manchester United, Liverpool, Manchester City, Chelsea, Arsenal and Tottenham Hotspur – and the other six known founder teams – Real Madrid, Barcelona, Atletico Madrid, Juventus, AC Milan and Inter Milan – stand to make?
And would it be enough to offset any losses caused by being kicked out of other competitions, such as the Premier League?
Where is this money coming from? And will it leave the rest of football much poorer?
Here, we explain what we know about the financial side of the European Super League.
What will European Super League clubs earn?
Before a ball is even kicked, each of the 15 founder clubs – the 12 already named above, plus three more – will share in a €3.5bn pot.
But although this has been labelled an “infrastructure grant” and a “welcome bonus” it is in fact a loan against future media rights revenues that will need to be repaid.
JP Morgan Chase is underwriting the finance, which will reportedly cost €264m a year to pay down over 23 years at 2-3 per cent interest.
How much will media rights be worth?
European Super League organisers are reported to be seeking €4bn a year for its media rights.
Industry analysts believe Amazon and Disney to be the most likely buyers. DAZN has denied reports it is already on board.
The Champions League, which it would effectively replace, currently generates around €3bn of revenue. It typically pays out €2bn to teams, who earn at least €25m and up to €120m.
It is hoped European Super League payments would comfortably exceed that.
However, it is unclear whether clubs would still be entitled to play in their domestic leagues.
That is particularly pertinent for English teams, as the Premier League generates by far the most income of any national football competition.
Premier League media rights are worth £3bn a year currently, with clubs receiving £90m-175m per season.
What will this mean for the rest of football?
Plans for a European Super League threaten to deprive Uefa of cash that it distributes across the game at all levels.
Organisers of the breakaway competition insist they will be able to increase these so-called solidarity payments.
They also say they will increase the sums as the league’s revenues rise over time.
Sceptics point out, however, that the self-governing European Super League could ditch this pledge further down the road.