JAmes Damon is the winner. He headed JP Morgan Chase for more than 15 years. With total assets of over $ 2.5 trillion, it has made the institute the largest bank in the United States. Plus, the manager, whom everyone calls “Jimmy”, looks very smart, which is why a little fuss over the fact that he made him become a billionaire himself.
But now, the Wall Street superstar and his house of money have suffered a crushing defeat with plans to fund UEFA’s Premier League. From a banker’s logic, the deal seemed a sure thing. The € 3.5 billion investment of JP Morgan could be managed in light of a net profit of more than $ 14 billion in the first quarter of this year alone – especially when securing the rights to some of the most valuable sports brands on the planet.
In fact, it is hardly negotiable either
But the Americans and their colleagues on the boards of the participating clubs did the calculations without a fan. In the home country of this sport in particular, he demonstrated a Continental Elite League model with a closed shop character based on the American model.
After the English founding members fell cold and withdrew, the project was considered dead a few days after it began. Ed Woodward, former JP Morgan banker and Premier League manager, has already resigned as managing director of Manchester United. Other champions like Real president Florentino Perez or Juventus president Andrea Agnelli are rarely available.
Financially, the failure of the Premier League might not be important to JPMorgan. However, massive miscalculations can have dire consequences for the image. Because it is not only among the many fans that New Yorkers are marginalized because of their participation. In sports, too, doubts have grown about the Wall Street experience.