By Muhaimin Olowoporoku
JP Morgan has described their intended financial support for the Super League as a mistake.
JP Morgan said they misjudged the reception the proposed competition would receive.
This is according to a statement the company released noting that they will learn from the situation.
“We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future, the statement read.
“We will learn from this.”
The investment banking giants had initially agreed to back Florentino Perez’s led project to the tune of £3bn.
JP Morgan was to ensure the project was a financially attractive prospect to the clubs involved.
12 top European clubs, including English football’s ‘big six’, announced they had signed up on Sunday evening.
However, all six Premier League clubs, two Italian clubs and Atletico Madrid have withdrawn from the project following protests from the football community.