Even in today's fast news cycle, the rise and fall of the European Super Soccer League is notable in that it caused such headlines but flamed out in less than a week. It's also a story that is germane to the current period when these types of meetings are happening over Zoom (NASDAQ: ZM) or other types of video-conferencing software. Typically, such a massive story would not break without rumors and leaks from underlings and other associates especially if meetings were held in person.
The Idea
At its core, the European Super League (ESL) was a brilliant idea. Basically, the top 15 clubs in Europe would form their own league with 5 open spots for clubs who performed well in their own domestic leagues. The top 6 clubs in England in addition to the top 3 clubs in Italy and Spain were the founding members of the ESL.
These teams generate the bulk of revenue and interest for their leagues, so they feel as if they deserved an increased share of revenues. Notably, these teams are owned by foreigners including American hedge fund managers, Saudi royalty, and Russian oligarchs. So, many believe that these teams have lost a connection with their local fanbases and the team's history. And, these suspicions were confirmed by the ESL.
It would certainly bring a higher level of competition and create more matchups between the top teams and players in the league. Many are speculating that the impetus for the league is that many of the top teams are losing money and these losses have significantly increased during the coronavirus. Therefore, the ESL was a way for these teams to sell another set of broadcast rights and sponsorships to recoup these losses.
Why It Didn't Work?
However, the Super Leagues was met with swift and immediate backlash from fans, broadcasters, and sponsors. For fans, it threatened the structure and foundation of the sport they loved. Many poured onto the streets in defiance of the pandemic to protest.
Obviously, for sponsors and broadcasters, it undermined the deals that they made with the Leagues. These sponsorships and broadcast rights would not be worth as much if the most popular teams left the league. FIFA threatened that players who participated in the league would not be eligible to play in the World Cup.
Many broadcasters indicated that they wouldn't bid on the rights to the ESL given the bad precedent it would set. Additionally, the blowback from fans, government officials, and league officials resulted in teams dropping out of the ESL within days of joining it. Thus, the ESL ended before it really even began.