JP Morgan confirm $6bn investment in the new European Super League

US investment bank JP Morgan has confirmed they will finance the new controversial European Super League with a $6bn cash injection.

The announcement of 12 major European clubs of their intention to join the new breakaway league has been met with a backlash from La Liga and UEFA.

However, the plans to bring forward talks with both FIFA and UEFA over the next stage of planning have received a boost following this latest announcement.

According to reports from Mundo Deportivo, the bank has agreed a joint investment collaboration with Key Capital, whose notable investors include prominent Spanish businessman Borja Prado.

Prado is a personal friend of Real Madrid – and now the European Super League president – Florentino Perez, with interests in major utility and media companies in Spain.

JP Morgan/Key Capital are rumoured to be offering each of the league’s founding members an initial assured €3.6m, however, previous estimates indicate the clubs are confident of securing a higher fee.

La Liga trio Real Madrid, Barcelona and Atletico Madrid are amongst the breakaway clubs alongside three from Serie A and six from the English Premier League.