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 Harry Maguire of Manchester United in action during the Premier League match between Manchester ... [+] United and Burnley at Old Trafford on April 18.. (Photo by Laurence Griffiths/Getty Images). 
 
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In the world of soccer’s elite, the rich could soon get a lot richer. 
According to a press release, twelve of Europe’s leading football clubs have today come together to announce they have agreed to establish a new mid-week competition, the Super League 
 
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 , governed by its Founding Clubs. AC Milan, Arsenal FC, Atlético de Madrid, Chelsea FC, FC Barcelona, FC Inter Milan Juventus FC, Liverpool FC, Manchester City, Manchester United, Real Madrid CF and Tottenham Hotspur have all joined as Founding Clubs. It is anticipated that a further three clubs will join ahead of the inaugural season, which is intended to commence as soon as practicable. 
 
It’s all about the money. This statement went on to say “the new annual tournament will provide significantly greater economic growth and support for European football via a long-term commitment to uncapped solidarity payments which will grow in line with league revenues. These solidarity payments will be substantially higher than those generated by the current European competition and are expected to be in excess of $11.8 billion (€10 billion) during the course of the initial commitment period of the Clubs. In addition, the competition will be built on a sustainable financial foundation with all Founding Clubs signing up to a spending framework. In exchange for their commitment, Founding Clubs will receive an amount of $4.1 billion (€3.5 billion) solely to support their infrastructure investment plans and to offset the impact of the COVID pandemic. 
All 12 of the founding clubs are already among the 20 most valuable soccer teams in the world. As we said last week, The world’s 20 most valuable soccer teams are worth an average of $2.28 billion apiece, an increase of 30% from two years ago, the last time we published the ranking. The jump comes despite a decline in revenue caused by limited attendance during the pandemic, with buyers focused on what they see as still untapped revenue potential in the sport’s massive global following. 
 
On news of the new Super League, which is being bankrolled by JP Morgan, shares of Manchester United are up 9% thus far today. That is great news for the Glazer family, which owns the team. Juventus shares are up 11%. That has got to make the Agnelli family smile. John Henry, who owns Liverpool, is another billionaire looking good right now (by the way, so is RedBird Capital, which bought a minority interest in Liverpool’s parent, Fenway Sports Group, last week). And let’s not forget Russian billionaire Roman Abramovich, owner of Chelsea. 
 
Money from the Super League will be greeted with open arms. Average revenue for the 20 most valuable soccer teams was $441 million for the 2019-20 season, down 9.6% from 2017-18, while average operating income fell by 70% over the period to $23 million. The pain is far from over, with a worsening decline in match-day revenue during the current season as most of the teams in Europe’s top leagues still permit few fans to attend games. 
 
The team that may be helped the most is AC Milan. The Italian team lost $92 million during the 2019-20 season. The debt laden team was taken over by Elliott Management in 2018 when then-owner Li Yonghong reportedly could not meet deadline for a debt payment. 
 
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The top soccer tams and their owners are already cashing in on the new Super League.

Super League Will Make Soccer’s Most Valuable Teams And Their Owners Richer