Juventus shares soar up to 10% after Super League announcement

The proposed break in European continental football by creating a closed Super League with 12 of the main teams has caused strong movements on the stock market this morning. The historic Juventus of Turin, one of the teams that has signed the creation of the Super League, has shot up to 10% on the Milan Stock Exchange, a rise that has moderated shortly after to around 7%. It is the biggest rise in a year, and the trading volume in the first half hour of the Stock Market is higher than that of the entire session last Friday.

The proposal involves creating a closed league (the founders would always play it regardless of their results) with more confrontations between the main teams and the expectations of more income. The tournament, which is funded by JP Morgan, includes an upfront payment of 3.5 billion to the founding teams, whose finances are hurt by the impact of the pandemic.

Juventus is the only one of the 12 founding teams to be listed on the Stock Exchange, along with Manchester United, to do so in New York. The vice-presidents of the Superliga will be, in fact, Andrea Agnelli (Juventus) and Joel Glazer (Manchester United), with Florentino Pérez (Real Madrid) as president. The Football Club Barcelona or Atlético de Madrid are in the group of 12.

Other teams from the European elite are not among the 12 signatories, such as Borussia Dortmund, PSG, Olympique de Lyon, Bayern Munich, Sevilla or Ajax. Borussia Dortmund up 2.6%; Although the German teams are not among the founders of the Super League, there is speculation that Bayern and Borussia would be among the 15 permanent members of the competition (another five would arrive by invitation). The Dutch Ajax, four times champion of the European Cup, fell 0.3%.

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