President of La Liga Javier Tebas has poured scorn on the plans for a European Premier League and warns of very serious repercussions.
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.
La Liga chief Javier Tebas has immediately slammed the European Premier League proposal
This new groundbreaking proposal 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.
Real Madrid are expected to make up part of the Spanish contingent in the new competition
Governing body FIFA have reportedly been involved in the talks over the European Premier League.
Now, after hearing the news, La Liga chief Tebas has wasted little time in highlighting what he feels is wrong about the proposal.
Speaking to reporters on Tuesday, he said: ‘The authors of that idea – if they really exist – not only show a total ignorance of the organization and customs of European and world football, but also a serious ignorance of the audiovisual rights markets.
‘A project of this type will mean serious economic damage to the organizers themselves and to those entities that finance it, if they exist, because they´re never official.
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‘These ‘underground’ projects only look good when drafted at a bar at 5 in the morning,’ Tebas added.
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.