Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, UEFA, FIFA and the national governments of Europe would let them walk away with a £4 billion ($7.2 billion) cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor?

As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.

New Statesman