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JPMorgan admits it misjudged by backing breakaway European Super League

The bank also had its corporate sustainability rating downgraded by Standard Ethics

JPMorgan Chase CEO Jamie Dimon
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JPMorgan Chase CEO Jamie Dimon (Photo: Reuters)

Reuters
JPMorgan said on Friday it regretted supporting soccer clubs in launching a breakaway European Super League after the plan collapsed earlier this week due to a storm of protest from fans and politicians.
 
"We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future," a representative for the bank said.
 
"We will learn from this."
 
JPMorgan provided a 3.5 billion euro ($4.2 billion) grant to the founding clubs to spend on infrastructure and recovery from the impact of the COVID-19 pandemic.
 
The bank was the sole lender to

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