UEFA Starts Investigation of Juventus, Barca Over Super League

UEFA, the Switzerland-based soccer body, started an official investigation into Italy’s Juventus Football Club SpA, Spain’s Real Madrid and Barcelona over the failed European Super League project, according to a statement.

“Following an investigation conducted by UEFA Ethics and Disciplinary Inspectors in connection with the so-called Super League project, disciplinary proceedings have been opened against Real Madrid, Barcelona and Juventus for a potential violation of UEFA’s legal framework,” UEFA said late Tuesday. Further information will be made available in due course, it added

The three soccer teams have yet to distance themselves from the rival European tournament that would have ended the Champions League’s decades-long reign as the premier competition in club soccer. The new Super League aimed to create an alternative tournament in which 15 founding clubs were guaranteed a place each year.

UEFA Starts Investigation of Juventus, Barca Over Super League

Juventus shares declined as much as 1% in Milan trading.

The Super League project had been three years in the making, backed by 4 billion euros ($4.9 billion) in financing from U.S. bank JPMorgan Chase & Co. But the deal spurred an angry backlash from fans and politicians, which scuppered the plans.

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