Shares in Italian soccer club Juventus and England's Manchester United jumped on Monday after they and ten other top European clubs launched a breakaway Super League.
Juventus' share price surged as much as 10per cent as shareholders welcomed the move that sets up a rival to UEFA's established Champions League, Europe's most prestigious club competition, and sparks a bitter battle for the sport's lucrative revenues.Shares in England's Manchester United rose 5per cent in thin pre-market trading. United's main listing is on the New York Stock Exchange that begins trading later.
As well as United, Premier League clubs Liverpool, Manchester City, Chelsea, Arsenal and Tottenham Hotspur have signed up to the plans.
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