Man Utd, Juventus stock falls as Super League collapses

By : AFP

Date: 21 April 2021 4:12am WAT

(FILES) In this file photo taken on April 15, 2021 The new black pitch-side seat coverings with the United logo is seen ahead of the UEFA Europa league quarter final, second leg football match between Manchester United and Granada at Old Trafford stadium in Manchester, north west England. - Twelve of Europe's most powerful clubs announced the launch of a breakaway European Super League on April 19, 2021 in a potentially seismic shift in the way football is run, but faced accusations of greed and cynicism. Six Premier League teams, Liverpool, Manchester United, Arsenal, Chelsea, Manchester City and Tottenham are involved, alongside Real Madrid, Barcelona, Atletico Madrid, Juventus, Inter Milan and AC Milan. Real Madrid chief Florentino Perez, who was announced as the first ESL president, said the breakaway reflected the big clubs' wishes. (Photo by Oli SCARFF / AFP)

Share prices of Manchester United and Juventus fell on Tuesday as the proposed European Super League was threatened following a furious backlash from fans.

On Wall Street, Manchester United dropped 6.0 percent, betting tips today reversing most of Monday’s gain of nearly seven percent.

And in Milan, Juventus lost 4.2 percent after ending the previous day at its highest level since September 2020.

“Juventus and Manchester United shares have both come under pressure after the gains of yesterday, bet of the day as it becomes apparent that even within the various Premier League clubs support amongst the players appears lukewarm at best,” Michael Hewson of CMC Markets UK said.

The two teams were among major European clubs that banded together to launch a breakaway competition designed to guarantee spots each year and billions of dollars for its founding members, sporting bet similar to the American football or basketball leagues.

But the announcement caused a wave of indignation among fans, sports betting authorities and even some governments.

As a result of the outcry, Manchester City, bet tips today one of the rebel clubs, said it would withdraw from the project. British media also reports Chelsea is about to throw in the towel.

Spanish media has reported Atletico Madrid is on the verge of withdrawing.

Despite the upheaval, US bank JPMorgan Chase, which said on Monday it is financing the project, has announced no changes to its plans.