We have just heard that the proposed new super league is not an idea, it is an agreement. It has just been announced by the BBC - this is for real.

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham are among 12 clubs who have agreed to join a new European Super League (ESL).

In a seismic move for European football, the Premier League clubs will join AC Milan, Atletico Madrid, Barcelona, Inter Milan, Juventus and Real Madrid.

The ESL said the founding clubs had agreed to establish a "new midweek competition" and that the inaugural season "is intended to commence as soon as practicable".

It also "anticipated that a further three clubs will join" the breakaway.

About $5billion has been committed to this new project by the American bank JP Morgan.

In a statement, the ESL said: "Going forward, the founding clubs look forward to holding discussions with Uefa and Fifa to work together in partnership to deliver the best outcomes for the new league and for football as a whole.

"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.

"In recent months, extensive dialogue has taken place with football stakeholders regarding the future format of European competitions.

"The founding clubs believe the solutions proposed following these talks do not solve fundamental issues, including the need to provide higher-quality matches and additional financial resources for the overall football pyramid."

Manchester United co-chairman Joel Glazer will be a vice-chairman of the Super League.

What is the proposed format?

The league will have 20 teams - the 12 founding members plus the three unnamed clubs they expect to join soon and five sides who qualify annually according to their domestic achievements.

It will start in August, with midweek fixtures, and the clubs will be split into two groups of 10, who play each other home and away.

The top three in each group qualify for the quarter-finals, with the teams in fourth and fifth playing a two-legged play-off for the two remaining spots.

From then, on it will have the same two-leg knockout format used in the Champions League before a single-leg final in May at neutral venue.

LATEST AT 8AM CET

The new annual tournament will provide significantly greater economic growth and support for European football via a long-term commitment to uncapped solidarity payments which will grow in line with league revenues. These solidarity payments will be substantially higher than those generated by the current European competition and are expected to be in excess of €10 billion during the course of the initial commitment period of the Clubs. In addition, the competition will be built on a sustainable financial foundation with all Founding Clubs signing up to a spending framework. In exchange for their commitment, Founding Clubs will receive an amount of €3.5 billion solely to support their infrastructure investment plans and to offset the impact of the COVID pandemic.

Florentino Pérez, President Real Madrid CF and the first Chairman of the Super League said:

“We will help football at every level and take it to its rightful place in the world. Football is the only global sport in the world with more than four billion fans and our responsibility as big clubs is to respond to their desires.”

Backing the new European league, Andrea Agnelli, Chairman of Juventus and Vice-Chairman of the Super League said:

“Our 12 Founder clubs represent billions of fans across the globe and 99 European trophies. We have come together at this critical moment, enabling European competition to be transformed, putting the game we love on a sustainable footing for the long-term future, substantially increasing solidarity, and giving fans and amateur players a regular flow of headline fixtures that will feed their passion for the game while providing them with engaging role models.”

Joel Glazer, Co-Chairman of Manchester United and Vice-Chairman of the Super League said:

“By bringing together the world’s greatest clubs and players to play each other throughout the season, the Super League will open a new chapter for European football, ensuring world-class competition and facilities, and increased financial support for the wider football pyramid.”

Photo: Action Images

Swansea City Polls