One Early Winner Of European Soccer’s Breakaway Tournament: Juventus Shares

One Early Winner Of European Soccer’s Breakaway Tournament: Juventus Shares
Andrew Rummer

almost 3 years ago1 min

Mentioned in story

Shares in Juventus surged 18% on Monday, the most since October 2013, after the 123-year-old Italian soccer club was named among 12 founding members of a proposed new competition known as the European Super League (ESL). 

Manchester United, one of the English clubs involved, rose 11% as of 12:48pm in New York – despite criticism from fans and former players.  

Teams not initially included in the plan had a mixed reaction: OL Groupe, the owner of France’s Olympique Lyonnais, slipped 2.1%, while Ajax rose 0.3% in Amsterdam and Germany’s Borussia Dortmund gained 11%.  

So far, six teams from England, three from Italy, and three from Spain have signed up to join the new ESL in a challenge to the UEFA Champions League, the continent’s current top soccer prize. The competition plans to have 15 permanent members and another five qualifying members each season. 

Shares of JPMorgan, the giant US bank that’s financing the $4.8 billion needed to set up the ESL, were little changed. 

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