Sixteen European clubs have allegedly gone behind the backs of Uefa and other clubs to negotiate forming a Super League, according to the Football Leaks investigation.
The 11 founding clubs, as reported by Der Spiegel, are Real Madrid, Barcelona, Manchester United, Bayern Munich, Juventus, Chelsea, Arsenal, Paris St-Germain, Manchester City, Liverpool and AC Milan.
The five ‘initial guests’ for a 16-team league, that would begin operating in 2021, are Inter, Roma, Atletico Madrid, Borussia Dortmund and Olympique Marseille.
The 11 founder clubs would be exempt from relegation from a potential second tier, which is also being discussed, and guaranteed membership for 20 years.
According to the report, the clubs are investigating how they can legally quit their leagues as well as European competition and have been asked sign a “binding term sheet” this month.
The clubs plan to register a company in Spain to market, organize and execute the European Super League under its full control. Real Madrid will reportedly hold an 18.77 per cent stake, followed by Barcelona (17.61 per cent), Manchester United (12.58 per cent) and Bayern Munich (8.29 per cent).