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