Top international banking services company JPMorgan, which was to arrange financing for the ill-fated European Super League (ESL), has issued an apology for its part in the much maligned project.

The Wall Street giant said it got it totally wrong and misjudged the sentiments of football fans across Europe.

A release from JPMorgan read: “We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future. We will learn from this.”

JPMorgan has been a big financial backer of leading American sports franchises and helped to list Manchester United on the New York Stock Exchange.

The new league was to see the so-called ‘Big Six’ teams of the English Premier League ( Manchester City, Manchester United, Liverpool, Arsenal, Tottenham and Chelsea) join six other top clubs across Europe including Barcelona, Juventus and Real Madrid in a competition that would have no promotion or relegation. Games would take place mid-week with each participating club guaranteed US$300 million annually.

JPMORGAN WAS TO UNDERWRITE VENTURE

JP Morgan was to underwrite loans of £4.3 billion for the venture which would have stabbed at the very heart of European football with an elite group barring entry to the less resourced football clubs.

The breakaway Europe Super League fell apart after two days of its announcement with all of the English clubs bowing to their fans and political pressure deciding to walking away.

Chairman of Juventus, Andrea Agnelli has admitted that the ESL project is dead for now. Inter Milan and Atletico Madrid have also withdrawn from the European Super League.

Manchester United legend Rio Ferdinand said: “I think this breakaway group of teams, this is a war on football. It’s a disgrace. It’s an embarrassment. And it goes against everything football is about. It’s a closed shop for these bigwigs and it’s completely and utterly only about one thing and that’s money.”