UEFA have announced that nine of the 12 founding members of the European Super League have renounced their intentions to form a breakaway competition and reaffirmed their support and commitment to UEFA.
However, the remaining three sides, Barcelona, Real Madrid, and Juventus, have refused to be reintegrated with UEFA and will now face further punishment. The 20-team Super League was set up last month but found itself disbanded within two days after significant backlash from fans, players, pundits, and the media.
"Those nine clubs acknowledge and accept that the Super League project was a mistake and apologise to fans, national associations, national leagues, fellow European clubs and UEFA," a statement from UEFA read.
The statement continued, "They have also recognised that the project would not have been authorised under UEFA Statutes and Regulations."
The European football body added that the clubs have "committed to and will participate in any UEFA Club Competitions each season for which that club qualifies on sporting merit" and will "terminate their involvement in the company established to form and operate the Super League and cease any existing related legal actions".
Arsenal, Atletico Madrid, Chelsea, Inter, Liverpool, Milan, Manchester City, Manchester United, and Tottenham - will lose five percent of the revenue they would have received from UEFA for one season.
The statement concluded: "In addition, and moving forward, UEFA has reserved all rights to take whatever action it deems appropriate against those clubs that have so far refused to renounce the so-called ‘Super League’. The matter will promptly be referred to the competent UEFA disciplinary bodies."