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Opinion

Sideways: JPMorgan could plot a football financing comeback

As football fans enjoy an action-packed European Championship, JPMorgan is advancing its project to dominate global sport financing.

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Photo: iStock

The US bank suffered ignominious defeat when its plan to provide $4 billion to finance a European Super League collapsed in April.

It drew some plaudits for a swift tactical reversal when it apologized for outraging football fans across Europe with a plan for a breakaway league of top clubs.

“We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future. We will learn from this,” the bank said.

There were questions about JPMorgan’s game planning, nevertheless.

Should Arsenal fan and European chief executive Viswas Raghavan take the blame as the midfield maestro closest to the action? Could his boss, JPMorgan president Daniel Pinto, have caught the mistake, as a banker from football-mad Argentina? Was ashen-faced global supremo Jamie Dimon even aware what his team were doing on the pitch and off?

The JPMorgan project rolls on and its finest minds are always thinking a few games ahead

A lesser bank might have retreated to nurse its wounds, but the JPMorgan project rolls on and its finest minds are always thinking a few games ahead and plotting a path to financing glory.

The


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