How to watch soccer at the Tokyo Olympics – women’s group matches begin on July 21

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USWNT US Women's National Team Soccer
US women’s national soccer team members Alex Morgan and Megan Rapinoe celebrate.

  • Olympic soccer will begin before the opening ceremonies with women’s group matches starting July 21.
  • Games will air on USA, NBC Sports, and the Olympic Channel via cable and live streaming services.
  • The women’s gold medal match is August 5, while the men’s gold medal will be decided on August 7.

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Soccer will be one of the first sports to begin competition at the Tokyo Olympics, with women’s group stage matches starting on July 21 and the men’s matches starting on July 22. The Tokyo Opening Ceremonies will be held on July 23 and Olympic soccer competition will continue through August 7.

A total of 24 nations will compete in soccer during the 2020 Tokyo Olympics, with 16 qualifying men’s teams and 12 women’s teams. You can watch select games on USA, NBC Sports, and the Olympic Channel through cable and live streaming services.

While Olympic men’s soccer has been restricted to players 23-years-old and younger since 1992, the one-year delay of the 2020 games led to the age limit being increased to 24. Men’s teams can also name up to three senior players above the age limit to compete in the Olympics. Brazil won the men’s soccer gold medal as the host nation in 2016, led by international superstar Neymar.

Women’s teams don’t have roster restrictions, and the US women’s national soccer team, or USWNT, is bringing back most of its players from the 2019 World Cup championship squad. The Americans plan to return to gold medal form after losing in the quarter-finals of the 2016 Olympics in Brazil.

The US Men’s soccer team was eliminated from Olympic contention after a loss to Honduras in a June qualifying tournament. USWNT has won four Olympic gold medals including a 2012 victory over Japan, while the men’s team has never won a gold medal and hasn’t qualified for the Olympics since 2008.

How to watch Olympic soccer

You can watch select Olympic soccer games on NBC Sports, USA, the Olympic Channel, Telemundo, and NBC Universo. Most of the games in Tokyo will air during the early morning hours in the US. The most important Olympic soccer matches will air on USA and NBC Sports Network.

If you have an authenticated pay-TV provider with access to the required NBC stations, you can stream every Olympic soccer match via NBCOlympics.com or the NBC Sports app.

If you don’t have a cable provider, you can use a live TV streaming service like Sling TV, FuboTV, Hulu + Live TV, or YouTube TV. Sling TV is the most affordable choice to get every Olympic soccer channel. The Sling Blue plan starts at $35/month for access to NBC, NBCSN, and USA. New subscribers can get their first month for just $10. You can add the Olympic channel for an additional $11/month with the Sports Extra package.

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If you can’t watch the games live, NBC will provide daily highlights and evening recaps of each day’s events. In addition to primetime coverage on NBC, you can visit NBCOlympics.com or download Peacock, NBC’s streaming service, to watch free soccer highlights and clips from other sports.

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Women’s Olympic soccer schedule

Below, you can find a full schedule of women’s soccer matches for the Tokyo Olympics.

Games with TBA (to be announced) listed in the channel column do not have a broadcast network identified yet. It’s unclear if these games will end up being televised. We’ll update the schedule with additional times and channels as they are announced.

July 21

Event Time Channel
Great Britain vs. Chile (Group E) 3:30 a.m. ET Olympic Channel
China vs. Brazil (Group F) 4 a.m. ET NBC Sports Network
United States vs. Sweden (Group G) 4:30 a.m. ET USA
Japan vs. Canada (Group E) 6:30 a.m. ET

NBC Sports Network

Zambia vs. Netherlands (Group F) 7 a.m. ET Olympic Channel
Australia vs. New Zealand (Group G) 7:30 a.m. ET USA

July 24

Event Time Channel
Chile vs. Canada (Group E) 3:30 a.m. ET TBA
China vs. Zambia (Group F) 4 a.m. ET TBA
Sweden vs. Australia (Group G) 4:30 a.m. NBC Sports Network
Japan vs. Great Britain (Group E) 6:30 a.m. ET TBA
Netherlands vs. Brazil (Group F) 7 a.m. ET TBA
New Zealand vs. United States 7:30 a.m. NBC Sports Network and Telemundo

July 27

Event Time Channel
Sweden vs. New Zealand (Group G)

4 a.m. ET

TBA
United States v Australia (Group G) 4 a.m. ET USA
Chile vs. Japan (Group E) 7 a.m. ET TBA
Canada vs. Great Britain (Group E) 7 a.m. ET TBA
Brazil vs. Zambia (Group F) 7:30 a.m. ET Telemundo
Netherlands vs. China (Group F)

7:30 a.m. ET

TBA

July 30

Event Time Channel
Women’s quarterfinals one 4 a.m. ET NBC Sports Network
Women’s quarterfinals two 5 a.m. ET TBA
Women’s quarterfinals three 6 a.m. ET NBC Sports Network
Women’s quarterfinals four 7 a.m. ET TBA

August 2

Event Time Channel
Women’s semifinals one 4 a.m. ET USA
Women’s semifinals two 7 a.m. ET USA

August 5

Event Time Channel
Women’s bronze medal match 4 a.m. ET USA
Women’s gold medal match 10 p.m. ET USA

Men’s Olympic soccer schedule

Below, you can find a full schedule of men’s soccer matches announced for the Tokyo Olympics.

Games with TBA (to be announced) listed in the channel column do not have a broadcast network identified yet. It’s unclear if these games will end up being televised. We’ll update the schedule with additional times and channels as they are announced.

July 22

Event Time Channel
Egypt vs. Spain (Group C) 3:30 a.m. ET Olympic Channel, Universo
Mexico vs. France (Group A) 4 a.m. ET USA, Telemundo
New Zealand vs. South Korea (Group B) 4 a.m. ET NBC Sports Network
Cote d’Ivoire vs. Saudi Arabia (Group D) 4:30 a.m. ET Olympic Channel
Argentina vs. Australia (Group C) 6:30 a.m. ET Olympic Channel, Universo
Japan vs. South Africa (Group A) 7 a.m. ET NBC Sports Network
Honduras vs. Romania (Group B) 7 a.m. ET Olympic Channel
Brazil vs. Germany (Group D) 7:30 a.m. ET USA, Telemundo

July 25

Event Time Channel
Egypt vs. Argentina (Group C) 3:30 a.m. ET Telemundo
France vs. South Africa (Group A) 4 a.m. ET TBA
New Zealand vs. Honduras (Group B) 4 a.m. ET Universo
Brazil vs. Cote d’Ivoire (Group D) 4:30 a.m. ET NBC Sports Network
Australia vs. Spain (Group C) 6:30 a.m. ET NBC Sports Network, Universo
Japan vs. Mexico (Group A) 7 a.m. ET NBC Sports Network, Telemundo
Romania vs. South Korea (Group B) 7 a.m. ET TBA
Saudi Arabia vs. Germany (Group D) 7:30 a.m. ET TBA

July 28

Event Time Channel
Saudi Arabia vs. Brazil (Group D) 4 a.m. ET Universo
Germany vs. Cote d’Ivoire (Group D) 4 a.m. ET NBC Sports Network
Romania vs. New Zealand (Group B) 4:30 a.m. ET NBC Sports Network
South Korea vs. Honduras (Group B) 4:30 a.m. ET Telemundo
Australia vs. Egypt (Group C) 7 a.m. ET TBA
Spain vs. Argentina (Group C) 7 a.m. ET Universo
France vs. Japan (Group A) 7:30 a.m. ET

NBC Sports Network

South Africa vs. Mexico (Group A) 7:30 a.m. ET Telemundo

July 31

Event Time Channel
Men’s quarterfinals one 4 a.m. ET NBC Sports Network
Men’s quarterfinals two 5 a.m. ET TBA
Men’s quarterfinals three 6 a.m. ET TBA
Men’s quarterfinals four 7 a.m. ET USA

August 3

Event Time Channel
Men’s semifinals one 4 p.m. ET NBC Sports Network
Men’s semifinals two 7 p.m. ET NBC Sports Network

August 6

Event Time Channel
Men’s bronze medal match 7 a.m. ET NBC Sports Network

August 7

Event Time Channel
Men’s gold medal match 7:30 a.m. ET NBC Sports Network
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Italy won the Euro 2020 final against England with a penalty shootout. Here’s why penalty kicks are so unfair to goalies.

Following is a transcript of the video.

Narrator: 0.4 seconds. That’s the time it takes you to blink. It’s also about how long goalkeepers have to save a penalty kick or fail trying. And it’s certainly not enough time for a goalie to react and respond. So goalies can’t solely rely on their speed and agility to save a penalty kick. Instead, they have to pretty much guess which direction to go and rely on either luck or game theory.

Game theory is a popular strategy in economics where the outcome of a situation relies more on how well you predict your opponent’s actions than how you perform your own. So since the goalie has no choice but to guess, they’re better off guessing logically than randomly. That’s where economists come in.

Ignacio Palacios-Huerta: I would like to know what you do in the last 80 penalty kicks you faced? Do you have any tendencies? What does this guy do against right-footed kickers versus left-footed kickers?

Narrator: That’s economist Ignacio Palacios-Huerta. He studied over 11,000 penalty kicks, and in 2008 during the UEFA Champions League Final, it paid off, sort of. It was Manchester United against Chelsea. The game came down to a penalty shootout which was the perfect opportunity for Chelsea to put Huerta’s advice into action.

Along with several pointers Huerta had given Chelsea’s goalie a key insight about Manchester United star Cristiano Ronaldo. Ronaldo would almost certainly kick the ball to the right if he paused on the run-up. And the advice worked. Ronaldo indeed paused and indeed kicked the ball to the right. Chelsea’s goalie followed Huerta’s advice and made the save. Ultimately Manchester United won the game, but despite Chelsea’s loss, it was clear that economists and statisticians can help even the odds when it comes to penalty kicks.

Because otherwise, it’s a crap shoot for the goalie. In 2014 for example, FiveThirtyEight calculated that 72.5% of penalties in World Cup history went in. For all competitions worldwide, it’s even higher. And when you take a closer look, it’s no wonder. Human response time takes roughly 1/10 of a second to kick in. The average kicker kicks a 70 mile per hour ball, which means the goalie won’t even register the ball’s direction until it’s about 25 feet away. It will take him another .5 to .7 seconds to react and reach for the ball, but by that point, it’s all over.

Now the goalie can improve the odds if they start to move before the ball is even kicked, but the goalie still has to basically guess a side and just go for it. So if time is the goalie’s enemy, maybe we should just move the penalty kicker further back. But for now, economists are a goalie’s best friend when it comes to stopping penalty kicks, and turns out, Huerta is helping a team in the 2018 World Cup, though he wouldn’t tell us who.

EDITOR’S NOTE: This video was originally published in July 2018.

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The Euro 2020 soccer championship will be broadcast this Sunday on ESPN – here’s where to stream the finals without cable

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Jorginho celebrates after scoring the winning penalty in Italy's Euro 2020 semifinal against Spain.
Jorginho celebrates after scoring the winning penalty in Italy’s Euro 2020 semifinal against Spain.

  • The last match of the Euro 2020 soccer championship will be broadcast on July 11 at 3 p.m. ET.
  • Euro 2020 matches can be streamed without cable on ESPN+ ($6/month).
  • You can also stream the final on any live TV service that includes ESPN, like Sling and Hulu + Live.

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After being postponed for a year due to the coronavirus, the European Football Championship held by the Union of European Football Associations (UEFA) is about to come to an exciting conclusion. Due to the tournament only happening every four years, this installment is still called UEFA Euro 2020.

Italy secured their spot in the finals on July 6, beating Spain during an intense penalty shootout. England and Denmark face off in the semi-finals to see who will play against Italy for the championship. Neither England nor Denmark have made it to the UEFA Euro semi-finals since the ’90s, and if England wins the match, it will be their first time reaching the finals.

Viewers tuning in for the last rounds of Euro 2020 have two matches left to watch:

  • England vs. Denmark – July 7 at 3 p.m. ET on ESPN and ESPN+
  • Italy vs. TBA – July 11 at 3 p.m. ET on ESPN and ESPN+

Soccer fans in the United States who are cable subscribers can watch both games live on ESPN. If you don’t have access to cable, there are multiple ways you can stream Euro 2020 matches as they happen.

Where to watch Euro 2020 finals without cable

You don’t need cable to experience the heart-pounding conclusion of the Euro 2020 tournament. Euro 2020 finals are available to watch live via ESPN+ ($6/month). The games are also available with a subscription to any live TV streaming service that includes ESPN: Sling TV, FuboTV, YouTube TV, and Hulu + Live TV.

ESPN+ is the most affordable streaming option to watch the Euro 2020 finals. The service costs $6 a month and includes all of the remaining matches. Even though ESPN+ does not offer the live ESPN channel, subscribers still get access to select live sports events, UFC matches, documentaries in the “30 for 30” series, and multiple original series.

For more information, take a look at our full breakdown of ESPN+.

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Sling TV is another affordable option for viewers that want access to the Euro 2020 finals without breaking the bank. You can watch Euro 2020 finals with the Sling Orange package that includes ESPN. The service is currently running a promotion where new subscribers get $25 off their first month, so your first month of Sling Orange will cost just $10. Following your first month, the service will renew for $35/month unless you cancel.

Check out our review of Sling TV here.

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FuboTV is another subscription streaming service with live TV plans that include ESPN. You can watch the Euro 2020 finals with the FuboTV Starter plan for $65 a month.

If you’re interested in trying FuboTV, check out our explainer on how to watch FuboTV and its many different packages.

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Hulu + Live TV also offers access to the Euro 2020 finals via ESPN. The service costs $65 a month for over 65 live channels, along with access to Hulu’s entire on-demand streaming catalog.

Read our explainer on Hulu + Live TV for additional information about available channels and packages.

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Finally, YouTube TV includes ESPN as well for live streaming access to the Euro 2020 finals. You can sign up for $65 a month. The service has over 85 channels, including additional sports stations like NFL, NBA, and MLB Network.

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Coca-Cola lost $4 billion in market value after soccer star Cristiano Ronaldo suggested people drink water instead

Cristiano Ronaldo snubs Coca-Cola drinks and holds up a bottle of water at Euro 2020.
Cristiano Ronaldo snubs Coca-Cola drinks and holds up a bottle of water at a Euro 2020 press conference on Monday.

  • Coca-Cola’s market value dropped by $4 billion on Monday after Cristiano Ronaldo snubbed its drinks.
  • The Portugal captain shifted two bottles of Coke away from him at a Euro 2020 press conference.
  • He held up a bottle of water and appeared to indicate he preferred it to the soft drink.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

The soccer superstar Cristiano Ronaldo’s gesture at a Euro 2020 press conference on Monday wiped $4 billion off Coca-Cola’s market value.

Ronaldo, sat beside Portugal manager Fernando Santos ahead of his team’s match against Hungary, irritably set aside two bottles of Coke, then picked up a bottle of water and said, “Água!” – the Portuguese word for water.

Coca-Cola’s shares, which had opened at about $56.17, had fallen by 1.6%, to $55.22, by the end of the press conference. Its market value dropped by $4 billion, to $238 billion from $242 billion. The soft-drink manufacturer’s shares continued to slide on Tuesday, falling by 0.3%.

Coca Cola stock price after Cristiano Ronaldo snubbed the drink
Coca-Cola’s stock price dropped on Monday after Ronaldo snubbed the company’s beverages.

The company’s decline in market value was an outlier compared to the entire S&P 500, which rose 0.4% on Monday. The broad-based stock market index is up 13% so far this year, compared to Coca-Cola’s 0.6% rise in 2021.

Shares in one of the largest bottlers of the drink, Coca-Cola Bottling, fell by 4% on Monday. It’s down by 8% in the past week.

Coca-Cola, an official sponsor of the UEFA Euro 2020 tournament, reportedly said in a statement that “everyone is entitled to their drink preferences” and has differing “tastes and needs.”

A Euro 2020 spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conference.”

Ronaldo has previously expressed disapproval of Coca-Cola and other unhealthy foods and beverages. His fitness routine is said to involve eating six meals and taking five naps in a typical day.

He has said he gets irritated with his son Cristiano Jr., who likes to drink the soda.

Read more: Growth-fund manager Gerry Sparrow has beaten 96% of his peers over the past 5 years. He shares 6 stocks he thinks have undeservingly suffered from the rotation out of growth this year – and says they have an average upside of 50%.

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Coca-Cola lost $4 billion in market value after soccer star Cristiano Ronaldo suggested people should drink water instead

Cristiano Ronaldo hates Coca-Cola
  • Coca-Cola’s market value dropped sharply after Cristiano Ronaldo snubbed the drink at a media event.
  • The Portugal captain shifted two bottles of Coke away from him at a Euro 2020 press conference in Budapest.
  • He then held up a bottle of water and appeared to indicate he preferred it to the soft drink.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

All-time soccer superstar Cristiano Ronaldo’s gesture at a Euro 2020 press conference wiped $4 billion off Coca-Cola‘s market value on Monday.

Ronaldo, sat beside Portugal manager Fernando Santos ahead of his team’s match against Hungary, irritably set aside two bottles of the soda drink placed before him. He then picked up a bottle of water and appeared to encourage drinking that instead by saying “Água!” – which is Portuguese for water.

Coca-Cola’s shares were trading around $56.17 when the market opened on Monday, but fell 1.6% to $55.22 by the end of the press conference. That led to a sharp drop in market value from $242 billion to $238 billion. The soft-drink manufacturer’s shares closed at $55.41 per share on Tuesday.

Coca Cola stock price after Cristiano Ronaldo snubbed the drink
Sharp drop in Coca-Cola’s stock price after Cristiano Ronaldo snubbed the beverage.

The stock price of one of the largest bottlers of the drink, Coca-Cola Bottling, fell 4% on Monday, and is down 8% in the past week.

Coca-Cola is one of the official sponsors of the UEFA EURO 2020 tournament. The company reportedly issued a statement about the incident, saying “everyone is entitled to their drink preferences” and have differing “tastes and needs.”

A Euro 2020 spokesperson added: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conference.”

Ronaldo has previously spoken about his disapproval of Coca-Cola and other unhealthy food and beverages. He follows a fitness routine that includes eating six meals and taking five naps on a typical day.

In 2020, he said he gets irritated with his son Cristiano Jr. who likes to drink the soda.

Read More: Deirdre Dunn started her career winning a hamburger-eating contest on the trading floor at Goldman Sachs. Now she’s one of Wall Street’s star traders at Citigroup.

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The European Super League failed because it pushed a ‘socialist’ system with roots in American sports – and its organizers’ biggest mistake was not realizing why fans would hate that

Juventus super league
  • 12 of Europe’s richest soccer clubs tried – and failed – to form a breakaway “Super League.”
  • The ESL would have marked a move in the direction of American sports, which experts say are more “socialist” in structure.
  • Fan backlash led to a quick collapse. “These Super League guys didn’t do their homework,” Andrei Markovits said.
  • See more stories on Insider’s business page.

Last Sunday night, the shock announcement of a breakaway “Super League” signaled that European soccer was about to get a whole lot more American.

That is, until a global backlash spanning everyone from the media to die-hard fans spurred a quick collapse.

A series of shock events over a roughly 48-hour period saw nine of the 12 ultrawealthy soccer clubs that wanted to form the league pull out, but that wasn’t the only unexpected development. Fans were furious that their favorite clubs were going to get richer from this arrangement, and they lambasted them for turning their backs on the current league structure, which is widely seen as problematic.

Prominent former players announced their own disgust.

“Manchester United, 100 years, borne out of workers from around here, and they’re breaking away into a league without competition that they can’t be relegated from? It’s an absolute disgrace,” respected football commentator and longtime Manchester United player Gary Neville said Sunday on Sky TV.

Still, even Neville said the current capitalist status quo isn’t perfect, and that competition has to “evolve.”

The casual American fan may be looking on with more than a little confusion. After all, why wouldn’t fans want a league that regularly pits Europe’s most famous and historically successful clubs against each other? To understand the outrage, you have to understand the economics of the European “football pyramid” and how an “American-style” closed competition clashes with more than 100 years of tradition.

Most fans want the biggest and wealthiest clubs to play against each other more regularly, as the Super League promised, but not if it means embracing what experts call a “socialist” structure that resembles American sports. They would rather have the inequality they’re used to in their domestic leagues, where a lack of coordination pits clubs ruthlessly against each other, and paradoxically results in less of the “competition” that prominent voices like Neville defended in the wake of the Super League announcement.

Leicester City
Leicester City scaled England’s football pyramid against long odds.

A closed competition vs. a football pyramid

The National Football League, Major League Baseball, and National Basketball Association all operate as closed systems, where teams can’t be kicked out.

American leagues are effectively set up as single corporate entities, with all their teams operating as subsidiaries, or franchises. The barriers to entry are so high they’re impassable. And when new clubs have formed in US sports history, they have formed within rival leagues, such as the USFL of the 1980s, which featured former President Donald Trump as an owner. It doesn’t exist anymore.

It’s not like that in Europe, where every club is treated as an independent corporation that is loosely affiliated in a competitive league format. If that club is mismanaged, it can lose money and get “relegated” to a second division, playing against relatively poorer clubs. This is the “football pyramid,” which in England, for example, features the Premier League at the top, with several divisions underneath it.

Theoretically, a club at the base of the pyramid could make it all the way to the top if it has good enough players. Something almost like this happened just a few years ago, when Leicester City won the Premier League against very long odds. But a so-called big club can tumble down the pyramid or even go bankrupt and enter administration, as happened with Leeds United in 2007.

The league’s most popular and well-funded teams face little risk of falling down the ladder. But the odds are exponentially higher for the smaller teams dotted throughout the UK. Those clubs, and their fervent fan bases, compete with a nearly constant threat of complete failure.

“Once you take away that hope the promotion-relegation system gives you, what will keep these [smaller] clubs alive in the future? The answer is ‘nothing,’ they’ll just die out,” Stefan Szymanski, co-author of “Soccernomics” and professor of sport management at the University of Michigan, told Insider.

The risk of relegation and, perhaps more importantly, the hope that an underdog can ascend the pyramid are what make football a cultural mainstay in England, Szymanski said. Even if the odds of promotion are small, that opportunity is what keeps local teams alive, he added.

“When it comes to sports, the American system looks decidedly socialist, and it’s Europe that looks like the land of opportunity,” Szymanski said. “This is the cartelization of European soccer. It’s formalizing a cartel amongst the elite teams.”

‘Xenophobia has a field day’

The fact that the closed system can be traced back to the US also poses a huge issue to European fans, Andrei Markovits, author of “Offside: Soccer and American Exceptionalism” and a professor of German Studies and comparative politics at the University of Michigan, told Insider. Transitioning the continent’s biggest teams from century-old league structures to one championed by Americans would spark intense feelings of erasure.

“What it means is that xenophobia has a field day … whatever you don’t like, you immediately make it American,” Markovits said. “This is literally anathema to millions of people.”

Even the business case for a closed league is short-sighted, the professor added. A league that represents the peak of international competition “should be soccer’s notion of upward mobility,” the professor said. Closing the Super League off from UEFA’s existing structure eliminates the appeal of teams fighting to stay in the highest ranks. That stands to drag on revenue as fans grow less interested because of a diminished sense of competition.

Although soccer has a global reach, local fans are still every club’s lifeblood. Their backlash will likely be the nail in the coffin for a fully closed model, whether it’s the Super League or a future offering, Markovits said.

“Sports fans are literally the most conservative, most parochial, most tribal beings … who will not agree to this,” he added. “These Super League guys didn’t do their homework.”

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JP Morgan says it regrets backing the failed European Super League with $4 billion of financing: ‘We clearly misjudged’

Super League
Soccer fans protest plans for a European Super League.

  • JP Morgan says it “misjudged” its decision to offer $4 billion in finance to the failed European Super League.
  • JP Morgan had said it would offer debt financing to the 12 soccer teams, who wanted to form an elite breakaway league.
  • Clubs quickly withdrew from the closed tournament after intense backlash from fans, players, and politicians.
  • See more stories on Insider’s business page.

JP Morgan said it “misjudged” a deal to finance a breakaway league for 12 elite European soccer teams, which collapsed following furious backlash from fans.

The US investment bank committed more than $4 billion in debt finance over 23 years to the 12 founding teams of the league, some of the best in Europe. The debt was secured against broadcasting rights for the tournament, according to the Financial Times.

Twelve clubs announced plans to breakaway from the UEFA Champions League, the top European-wide competition, on Sunday. They would form their own Super League, they said, sparking outrage from fans, players, politicians, and even the UK royal family.

The plan quickly unraveled. By Wednesday all six UK clubs had pulled out. Italian teams AC Milan and Inter Milan, and Spain’s Atletico Madrid, said they would also withdraw.

The new competition planned to include Manchester United and Real Madrid, among other top clubs.

A JP Morgan spokesperson said: “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.”

Critics said the scheme risked turning European soccer into a “money-grabbing” exercise similar to US sports leagues like the NFL, and undermined the ability for smaller clubs to beat the odds and win against top teams.

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Juventus shares tumble 12% while Manchester United slides as European Super League soccer plan implodes

GettyImages 1312146598
Cristiano Ronaldo plays for Juventus FC.

Shares in Italy’s Juventus FC tumbled 12% on the Italian stock exchange on Wednesday after controversial plans for a European Super League soccer tournament all but imploded as English teams withdrew.

Manchester United shares were down 1% in pre-market trading on the New York Stock Exchange, after they slid 6% on Tuesday.

“I don’t think that project is now still up and running,” Juventus chairman Andrea Agnelli, one of the key drivers behind the plans for the ESL, said on Wednesday, according to the BBC.

The decision of many of Europe’s richest and most successful clubs to sign up to a highly lucrative new tournament boosted the share prices of the clubs listed on the stock market on Monday.

Shares in Juventus (ticker JUVE), Cristiano Ronaldo’s team, jumped 24% from Friday’s close to Monday’s close on Italy’s stock exchange after the JPMorgan-backed plans were announced.

Manchester United (MANU) shares climbed around 7%, with investors liking the look of a tournament that would make the clubs much richer.

But the plans, which would exclude all but 5 other teams each year, were met with howls of outrage from soccer fans across the continent.

On Wednesday, the entire European Super League project all but collapsed after the six English teams pulled out of the competition. They were: Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham.

Now the tournament – which had also enlisted Spain’s Atletico Madrid, Barcelona, and Real Madrid, and Italy’s AC Milan, Inter, and Juventus – appears doomed.

“It’s been a total debacle for the clubs – investors may be cautious about investing in football teams; they usually are,” Neil Wilson, chief market analyst at Markets.com, said.

The fall took Juventus’ shares down to 0.77 euros (around $0.92), virtually where they closed on Friday. Manchester United’s shares traded at around $16.05 in pre-market, also similar to Friday’s closing price.

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JPMorgan gets backlash from soccer fans after backing the Super League, Amazon denies supporting it

chelsea european super league
  • On Sunday, 12 top soccer clubs announced plans to join a closed league, called the European Super League.
  • JPMorgan invested $4 billion in the new league, while companies like Amazon denied supporting it.
  • The bank faced backlash from soccer fans on Twitter who were upset about the new league.
  • See more stories on Insider’s business page.

JPMorgan faced the ire of soccer fans on Tuesday after it was revealed that the bank was backing the European Super League to the tune of about $4 billion.

On Sunday, 12 top clubs from England, Italy, and Spain, including Real Madrid, Barcelona, and Manchester United, announced plans to participate in the new, closed league. The announcement sparked a significant backlash in the sports community. Top players, as well as government officials, spoke out against the new league.

And by Tuesday afternoon, several clubs, including Barcelona and Manchester City, reportedly decided to withdraw from the league following criticism. Chelsea fans protested outside the team’s stadium on Tuesday, leading the club to withdraw the same day.

On Twitter, numerous soccer fans called for a boycott of JPMorgan.

“If your bank is @jpmorgan you simply have to move your money elsewhere,” one fan posted on Twitter. “Say NO to the #SuperLeague.”

Fans also called for a boycott of services that would stream the Super League games, pointing fingers at Amazon and ESPN.

“To all footbalfans: if the SuperLeague arrives, refuse to choose the TVchannels they will use: If they cannot make money, JP Morgan and the greedy clubs will soon loose their appetite,” one Twitter user wrote.

Streaming rights to the European Super League could be a major boon to media groups like ESPN and Amazon Prime, likely on par with the NFL.

Amazon responded to claims the company would stream the Super League events and said it “understands and shares the concerns of fans.” The company said it has not been involved in any discussions about the new league.

A primary concern among fans was that the new league meant increased control over the game from American corporations. The Super League would be more reminiscent of US sports leagues than European ones, as the league would no longer regulate teams to lower levels based on their performance.

Some fans said JPMorgan was attempting to turn European soccer into a “money-grabbing” entity like the NFL.

Other fans cracked jokes and made memes about JPMorgan’s decision.

JPMorgan declined to comment about its backing of the league.

The founding members of the project have already filed motions in several courts against any efforts to stop the foundation of the league, according to The New York Times.

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Major soccer club shares jump after teams unveil new European Super League that counts JPMorgan as a backer

Italy coronavirus
Juventus and Inter Milan play in an empty stadium in Turin, Italy, on March 8, 2020.

  • The shares of the biggest European soccer clubs rose after they announced a new Super League partly backed by JPMorgan.
  • An investment of around $4.8 billion is expected from the bank, which did not confirm exact numbers.
  • The breakaway soccer league has met with controversy amongst football fans and institutions.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

The shares of major European soccer clubs jumped on Monday after twelve elite teams unveiled plans to form a new European Super League that will be backed in part by JPMorgan, according to a report on Monday from Bloomberg that cited a person familiar with the matter.

Juventus shares closed up almost 18% on the Borsa Italiana on Monday and England’s Manchester United was last trading almost 10% higher on the day on the New York Stock Exchange.

The two, together with 10 of their top-flight rivals, namely AC Milan, Arsenal, Atletico Madrid, Chelsea, Barcelona, Inter Milan, Liverpool, Manchester City, Real Madrid and Tottenham Hotspur, announced the creation of a European Super League on Sunday.

Three additional clubs are set to join the league, which will hold midweek matches. It will be chaired by board members of the founding clubs, who on Monday stepped down from positions in traditional football associations.

The bank will reportedly support the set-up with financing worth $4.8 billion. JPMorgan’s press office did not respond to Insider’s request for comment.

Fans, other soccer teams, established football institutions and even politicians have spoken out against the formation of the new league. UEFA and FIFA have said that players who take part in the Super League may be excluded from tournaments associated with traditional football institutions and national teams.

Critics say that the move to form a new league undermines the spirit of the game and is largely down to making financial gain from signing up to the new league, playing throughout it and selling the TV rights to those games.

“A club like Man Utd playing in the Champions League, they make between £40-80 million [roughly $55.8 million – $111.7 million] on a good year if they win it,” Kaveh Solhekol, Sky Sports News reporter said. “If they play in this new competition, they get a cheque for £250-300 million [roughly $349.1 million – $419.1 million] to begin with, then in the future they will get three times as much money a season as they get from the Champions League,” he continued.

The European Super League have confirmed that the founding clubs will receive an initial $3.5 billion payment to set up the league.

JPMorgan’s share price was last up around 0.6% on the day.

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