UEFA in talks over with Centricus over €6bn Champions League revamp

UEFA is in discussions with Centricus Asset Management over financing a €6bn revamp to the Champions League to stop plans for the breakaway Super League in their tracks.

Centricus is a global investment firm ran out of London which has previously been involved in several projects with FIFA and also held talk to invest in FC Basel.

According to Bloomberg, their latest move could be to fund an overhaul to the Champions League. UEFA have already announced plans for changes to the competition starting in 2024, although this is at risk after 12 elite clubs unveiled their breakaway mid-week competition on Sunday.

The so-called Super League is being financed by US banking giant JP Morgan to the tune of £4.3bn, with each club set to receive hundred of millions of pounds before the end of this season simply for signing up. However, that too is under threat after Chelsea and Man City set plans in motion to pull out following a huge backlash to the proposals.

To help keep the other rebels on side, UEFA are said to be negotiating with Centricus to create a more lucrative Champions League setup. The initial figure mentioned several months ago was around £4.2bn. However, this is likely to be raised to £6bn to blow the Super League out of the water.

Saying that, it is worth noting that talks are still ongoing. A confidential source with knowledge of the complex situation conceded that it was far from certain that a deal would be reached.

The news is the latest twist in the biggest European football story for many years. Since the 12 breakaway clubs made the announcement, their plans have been roundly criticised across the game by players, managers and fans alike.

UEFA, FIFA and the various domestic leagues that the clubs have left in the lurch are also fuming, with teams being kicked out of these competitions not being ruled out.