Arsenal has lost £8m just for joining the alliance of teams that formed the suspended European Super League and they face even further fines.
The Gunners were one of six Premier League teams who joined forces with Spanish and Italian teams to create the new competition.
However, their efforts to create competition for the Champions League were frustrated until it was abandoned.
The club’s fans were one reason why the idea had to be suspended and it has now been revealed that they have already started losing money for gambling that the competition would take off.
Sun Sports claims the £8m was a fee paid by each of the registered teams as a token that would be used to run legal costs as well as negotiating TV rights, etc.
The report claims that the agreement that bound them was meant to be stuck with no matter what happens.
Now that it has failed, the teams are unlikely to get their money back.
The Premier League is also deliberating how to respond to the rebels.
The report adds that the EPL would likely fine them rather than dock them points or exclusion from the competition.
The 8m should be recouped from the salaries of all our Board members who voted in favour of joining the Super League.A formal Board meeting would have taken place to discuss and ratify the SL proposals and I can only assume that every member is culpable as nobody to my knowledge has resigned in protest.This episode is yet another example of the incompetence and weak Management which has been a feature of our Club for at least a decade.
As far as I can tell Grandad, apart from Stan and Josh the only other board member is Lord Harris of Peckham (Harris carpets)
Tim Lewis is a non executive board member and was brought in lat year
I’m glad the ESL died of death within 24 hours, on the plus side we got some free advertising being an elite club in Europe hopefully that will attract more sponsors and players
Exactly
Josh has confirmed they (kroenkes) will pay the £8 million not the club.