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UEFA announced on Friday that Chelsea and eight other founding members’ of the Super League had signed a ‘Club Commitment Declaration’, where they would be fined €100 million.
All nine clubs will also lose 5 per cent of their revenues from UEFA club competitions for one season.
The nine clubs are Chelsea, Manchester United, Manchester City, Arsenal, Liverpool, Tottenham Hotspur, AC Milan, Inter Milan and Atletico Madrid.
Meanwhile, Real Madrid, Juventus and Barcelona are refusing to distance themselves from the European Super League project.
Real Madrid, Juventus and Barcelona are likely to face some form of punishment from UEFA but the extent of that punishment is not yet known.
UEFA President, Aleksander Ceferin said: “I said at the UEFA Congress two weeks ago that it takes a strong organisation to admit making a mistake especially in these days of trial by social media. These clubs have done just that.
“In accepting their commitments and willingness to repair the disruption they caused, UEFA wants to put this chapter behind it and move forward in a positive spirit.
“The measures announced are significant, but none of the financial penalties will be retained by UEFA. They will all be reinvested into youth and grassroots football in local communities across Europe, including the UK.
“These clubs recognised their mistakes quickly and have taken action to demonstrate their contrition and future commitment to European football. The same cannot be said for the clubs that remain involved in the so-called ‘Super League’ and UEFA will deal with those clubs subsequently.”
Nasser Al-Khelaifi, Chairman of the European Club Association said: “The nine clubs have renounced the project; apologised for their actions; and reaffirmed their commitments to engage with the ECA and with the official structures of European football under the governance of UEFA.
“This decision comes following strong alignment between the ECA and UEFA over recent days and weeks on how to manage the disruption by the ill-fated project.
“As the only legitimate representative body for clubs recognised by UEFA, the ECA will continue to pursue our efforts alongside UEFA and other football stakeholders in shaping the future of the European game —the importance of which is more vital, now, than ever.”