European Super gaffe? Football blunder hits JPMorgan’s ESG credentials
European football is hardly a model of sustainability at the best of times, but JPMorgan is to be commended for its noble attempt to make it even worse.
Never let it be said that JPMorgan can’t read the room.
The bank that once told you bitcoin was a fraud before launching its own digital coin has excelled itself in the public relations front by backing the most controversial initiative to beset sport since Tonya Harding’s mates took a baton to Nancy Kerrigan’s landing knee.
You would think JPMorgan would know a thing or two about league tables by now, but its decision to bankroll a breakaway European Super League that would enrich the already wealthy and keep them safe from relegation or any meaningful level of risk was remarkably tone deaf.
Even banks usually accept that you will drop out of league tables if you’re no good
On Sunday, 12 clubs including Real Madrid, Barcelona, Juventus, Manchester United and Liverpool announced their decision to ditch 70 years of European football tradition and go it alone in a new continental league for which they would never have to qualify and could never be removed.