Manchester United and Liverpool in £4.6BILLION talks to set up a ‘European Premier League’

Just a week after it was revealed they were the driving forces behind Project Big Picture, Liverpool and Manchester United are reportedly in talks to set up a European Premier League.

The league, estimated to be worth £4.6billion, has been revealed by Sky News in another bombshell power-play by England’s two biggest sides to re-shape the face of the game. 

Project Big Picture was dismissed as a possibility with clubs concerned at the level of power clubs such as Liverpool and United would assume under the restructure.  

The groundbreaking proposals would see more than a dozen teams across England, France, Germany, Italy and Spain become founding members of the new competition. 

There is a provisional date of 2022 for the European Premier League to get underway and as many as five English teams could be involved in it.

Governing body FIFA have reportedly been involved in the talks over the European Premier League

Wall Street giant JP Morgan is reportedly in talks to provide $6bn (£4.6bn) in debt financing to help get the European Premier League off the ground.   

It is anticipated that future broadcast income generated by the league would work as a repayment. 

Should the league get the green light, it would immediately become one of the most lucrative divisions in world football. 

The 18-team competition is expected to involve fixtures played during the normal European club season. 

A typical league format would follow before the top-performing teams would enter a knockout competition to crown a champion. 

The report goes on to add that prize money for the winning side is expected to be worth hundreds of millions of pounds every single year. 

Teams would be paid ‘lucrative sums’ to join the competition. Manchester United and Real Madrid are reported to be in line for thee largest welcome fee. 

The growing concern for European governing body UEFA is that any European Premier League would all-but replace the pre-existing Champions League. It is unclear if UEFA support the proposals at this stage.

Opposition from UEFA would likely leave their fractious relationship with FIFA in danger of complete collapse with the two governing bodies then at odds over their flagship club competition. 

While there has been no official confirmation of the bold plan, it is expected that it could arrive before the end of the month.

Key Capital Partners, a Spanish finance company, are said to have played a key role in talks so far. 

Real Madrid president Florentino Perez, who has long advocated for a Super League format for Europe’s elite, is another figure credited with a significant role in the latest proposals. 

Along with Liverpool and Manchester United, Arsenal, Chelsea, Man City and Tottenham are seen as other potential candidates for the European Premier League. 

But if the original report is correct, one of the Premier League’s ‘Big Six’ would miss out as part of the restructure.   

News of the European Premier League comes soon after Project Big Picture dominated conversation in the English game. 

Under that proposal, a bailout would have been provided to the English Football League [EFL] but, in turn, more power would be handed to the ‘Big Six’. 

Those plans also looked to reduce the Premier League to an 18-team competition, with only two sides automatically relegated each season.