The controversial football Superliga is born. Who needs it and why?
Some of the world's biggest football clubs have agreed to join a new European Super League (ESL) that will rival the current Champions League competition, one of the biggest club tournaments in world football.
While the new ESL won't replace domestic leagues like England's Premier League and Spain's La Liga, the clubs that compete in it face the threat of being kicked out of their domestic leagues by Europe's football governing body.
Why are these big clubs doing this?
Money seems to be the driving force. The ESL says it will result in a greater distribution of revenue throughout the game.
Football club revenues have been hit hard by the Covid pandemic with disrupted fixtures and lack of spectators. Big clubs have superstar players with multi-million pound salaries that need to be paid.
"The formation of the Super League comes at a time when the global pandemic has accelerated the instability in the existing European football economic model," said a joint statement released by the 12 founding clubs on Sunday.
The new annual European tournament "will provide significantly greater economic growth and support for European football via a long-term commitment," the statement added.
It is offering "uncapped solidarity payments" to European football which will grow in line with league revenues. ESL says these will be "substantially higher than those generated by the current European competition and are expected to be in excess of €10bn (£8.6bn)" during the early stages.
A statement from the new competition said: “AC Milan, Arsenal, Atlético Madrid, Chelsea, Barcelona, Inter Milan, Juventus, Liverpool, Manchester City, Manchester United, Real Madrid and Tottenham Hotspur have all joined as founding clubs.
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