The European Super League body is considering a €3 billion lawsuit against UEFA, as it looks to seek damages.
Calcio e Finanza have reported about the situation, stating that the Super League are seeking damages for the way UEFA have defamed them and the damages claim could amount to about €3.6 billion.
The Super League believe that the damage has taken place in multiple ways. It starts with the €4 billion euros in funding that was negotiated, documented, and guaranteed by the investment bank JPMorgan. The proceeds were intended to be distributed to participating clubs, but due to UEFA’s actions and the subsequent project blockage in 2021, the loan was never disbursed.
As a result, the Super League could also not take up favourable interest rates that were available in the market at that point. This forms the basis of the Super League’s complaint.
At the time of the Super League announcement, the loan could have been obtained with an interest rate of 3%, while the current market rate can reach 6%, according to estimates. The present value difference between these two is approximately €1 billion, an amount that the Super League quantifies as damages in this regard.
Kaustubh Pandey | GIFN
