Juventus, Manchester United shares jump on Super League plans
(FILES) In this file photo taken on April 15, 2021 The new black pitch-side seat coverings with the United logo is seen ahead of the UEFA Europa League quarter-final, second leg football match between Manchester United and Granada at Old Trafford stadium in Manchester, north-west England. – Twelve of Europe’s most powerful clubs announced the launch of a breakaway European Super League on April 19, 2021, in a potentially seismic shift in the way football is run but faced accusations of greed and cynicism. Six Premier League teams, Liverpool, Manchester United, Arsenal, Chelsea, Manchester City and Tottenham are involved, alongside Real Madrid, Barcelona, Atletico Madrid, Juventus, Inter Milan and AC Milan. Real Madrid chief Florentino Perez, who was announced as the first ESL president, said the breakaway reflected the big clubs’ wishes. (Photo by Oli SCARFF / AFP)
Shares in Juventus and Manchester United jumped on Monday after the clubs announced a breakaway European Super League with another 10 of football’s most powerful teams.
The Italian club’s shares rose by nearly 18 percent to 0.91 euros on the Milan stock market, after weeks of having slid since it was eliminated from the Champions League in March.
Manchester United, which is listed on the New York Stock Exchange, was up 8.3 percent about an hour into US trading.
Overnight, the two clubs confirmed their participation in the new venture alongside other clubs from Italy, England and Spain.
Inter Milan, AC Milan, Liverpool, Arsenal, Chelsea, Manchester City, Tottenham, Barcelona, Real Madrid and Atletico Madrid have also signed up to the plan, which has sparked outrage from football authorities, fans and pundits.
“The financial incentive for the clubs is plain to see, with a multi-billion dollar package at the heart of the scheme, albeit it would forever break the integrity of the club game,” said Neil Wilson, chief market analyst at Markets.com.
“The sort of additional revenues the ESL will deliver would need to be offset by a potential material decline or total loss of existing earnings from media deals through national leagues and UEFA,” he said.
