Where does this €4.5 billion figure come from?
Sources from A22, a close partner of Real Madrid (the company behind the controversial European Super League concept, now renamed "Unify League"), revealed that Real Madrid believes this amount represents the matchday, broadcasting, and commercial revenue they could have earned from the European Super League.
These sources, after communicating and meeting with Real Madrid’s partners, told The Athletic that the figure is based on the assumption that the project was never implemented, rather than representing lost revenue over a specific period.
They also stated that this potential claim is unrelated to any claims filed by A22.
When The Athletic sought confirmation from Real Madrid regarding this figure, a source declined to verify it, only stating that the total would "reach billions of euros." They added that Real Madrid would "announce the matter in due course."
So… can Real Madrid actually get this money?
First, Real Madrid must prove that they indeed suffered financial losses due to UEFA’s actions. This means they need to demonstrate how much they could have earned over a period if the ESL/Unify League had operated normally, versus the revenue they actually earned from participating in UEFA competitions.
This will be extremely tricky, as the initial ESL plan was vague on how it would generate profits, and to date, no broadcaster or sponsor has admitted to negotiating with these "rebels."
In fact, no company has even admitted to potential interest if the project had launched, though this is likely simply because no one wants to get involved.
What we do know is that, due to multiple leaks of ESL contracts, each of the 12 clubs was set to receive a "welcome fee" of €200-300 million, while Barcelona and Real Madrid—self-proclaimed "founding members"—were to get an additional €60 million each in the first two ESL seasons.
It is this preferential treatment for football’s "aristocracy" that made the entire plan unappealing to many fans.
Real Madrid’s independent experts could reasonably estimate the club’s matchday revenue from additional games. If the team had reached the so-called ESL final, they would have had at least 11 home games, compared to just 7 under the current Champions League format.
With these extra games held at the 84,000-capacity Bernabéu over a decade or more, the revenue would be substantial.
Everything else is speculation. Would ESL/Unify League broadcasting deals really generate significantly more than the huge revenue from the Champions League? Given rumors that UEFA club competitions will earn over $5 billion annually from 2027, this seems unlikely.
Of course, there’s another view on why the ESL failed: the plan was killed when it first faced reality, as it was hasty, poorly conceived, and deeply unpopular. Is that UEFA’s fault?
Given all this, can we cynically suggest that the aim is to create an existential threat to UEFA—a multibillion-dollar class action—to force the Nyon-based body to negotiate and settle?
What happens next?
As mentioned, A22 has not given up on launching the competition. They’ve adjusted the format twice and now say they’re willing to tweak it again to make it barely distinguishable from UEFA’s three competitions.
A22 has also repeatedly stated that they’ve learned from 2021—when European fans hated the closed league and cash-rich elites—so Unify League qualification will be determined by clubs’ domestic league performances.
We also know that A22 spent much of this year negotiating with UEFA over its plans, including its high-profile pledge to broadcast all games for free globally. Real Madrid claims it also tried to persuade UEFA to let other entities run cross-border club competitions.
Sadly, neither UEFA nor its UC3 partners—the 800+ clubs in the European Football Clubs Association (EFC)—have shown any interest in these proposals.
In fact, at the EFC general assembly in Rome earlier this month, only journalists like me discussed the upcoming Madrid court ruling and its potential impact on Unify League, which says something.
I spoke to no club that thought an A22 victory—and everyone knows they’ll win—would change anything.
Actually, that’s not entirely true. Some believe the only outcome will be compensation lawsuits, whose real purpose is to force UEFA to cede more control over the Champions League and its sister competitions.
If UEFA’s control over the Champions League isn’t already as tight as the FA’s over its "own" Premier League, we’re getting very close.
