Juventus Stock Jumps Most in a Year Amid Super League Plan

Bloomberg2021-04-19

(Bloomberg) -- Juventus Football Club S.p.A. shares jumped the most in a year after the Italian soccer club joined a group of the game’s wealthiest teams in announcing plans for a new “super league” ...

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Other members include Manchester United Plc, whose shares rose 3.9% in early U.S. premarket trading on thin volume.Establishing a new elite tournament in Europe would effectively end the UEFA Champions League’s decades-long reign as the world’s premier club contest, and revolutionize the sport’s structure. Under the plan, 15 founding teams would share an upfront payment of 3.5 billion euros ($4.2 billion).“The financial incentive for the clubs is plain to see, with a multi-billion dollar package at the heart of the scheme, albeit it would forever break the integrity of the club game,” Neil Wilson, chief market analyst at Markets.com, said in emailed comments.Even shares of teams not part of the breakaway group were boosted by news of the plan. 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