Manchester United have lost millions under 48 hours as ESL controversy looms

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Manchester United may have announced its decision to pull out of the European Super League, but it indeed comes at a cost price that will see the club lose some money.

The Premier League Big Six confirmed on Sunday evening that it was a part of the European Super League.

The highly controversial closed league saw 12 clubs involved in it, as Real Madrid, Barcelona, Atletico Madrid, AC Milan, Inter Milan and Juventus were all part of it.

However, the clubs decision to form a breakaway elite league has been met with uproar and a negative backlash by fans, government, past and present players and football bodies. This has caused Manchester United and other Premier League sides to announce that they will pull out of the European Super League.

However, the Daily Mail report that Manchester United and the other English clubs could face financial penalties for pulling out as the ESL contract signed last week contained clauses committing them for at least three years.

Lawyers say the contracts will have been structured to encourage clubs to stick with the controversial project in the face of expected protest by imposing large penalties.

The Premier League’s Big Six could also be forced to pay compensation to the six other European Founding Clubs for breaking a clause in the ESL’s 3-year contract which stated they could not leave for its first three years.

The 12 Founding Clubs who announced the venture on Sunday evening purchased equity stakes of around £8million each in the Super League, and now the Big Six clubs have already lost tens of millions between themselves, when they were in a bid to get more money to sustain the club.

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