JPMorgan says it misjudged backing European Super League

JPMorgan. Credit: Reuters Photo

JPMorgan said on Friday it regretted supporting soccer clubs in launching a breakaway European Super League after the plan collapsed earlier this week amid intense criticism from fans and politicians.

"We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future," a representative for the bank said.

"We will learn from this."

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JPMorgan provided a 3.5 billion euro ($4.2 billion) grant to the founding clubs to spend on infrastructure and recovery from the impact of the COVID-19 pandemic.

The plan collapsed on April 21 - less than 48 hours from being announced - with eight of the 12 founding members from England, Italy and Spain walking away.