Due to the Premier League, JP Morgan’s rating has been downgraded

The negative outcome of Operation Super Lega has had huge repercussions on the football world, but it also looks like the funding has to absorb a significant shock. Standard Ethics, an independent rating agency based in London, has ranked companies on the basis of their sustainability – a parameter about the ethical implications of their strategic vision – in fact downgrading JP Morgan Chase after the Super Project failed. League. The US bank had promised a loan of 3.25 billion euros, but in the end the withdrawal of the English clubs and thus all other founding companies led to the dissolution of the new tournament early.

Specifically thanks to the performance of this transaction, Standard Ethics downgraded JP Morgan’s sustainability rating from “EE-” to “E +”. Translate into understandable terms, moving from “adequate” to “incompatible”. As I mentioned before guardian, The agreements between JP Morgan and the Super League state that the US bank, one of the oldest and most important financial institutions in the world, which is part of the Se Us index, will not have control over new competition strategies; Moreover, a portion of these funds will be used to fund grassroots sports and some community projects.

In the case of the Super Lega case, Standard Ethics evaluated the guidelines for the football clubs participating in the project, as well as the guidelines of the US Bank, and ruled that they were inconsistent with sustainability best practices. To justify its choice, the London agency claimed “the serious negative effects of the project reported by many critics.” They include UK Prime Minister Boris Johnson, French President Emmanuel Macron and Italian Prime Minister Mario Draghi. The Italian prime minister has explicitly referred to issues related to sustainability, such as “the values ​​of merit and the social function of sport”. An editorial staff called him guardian, JPMorgan Chase declined to comment on the downgrade of Standard Ethics.