It's been pretty interesting following all this. Hard to know where exactly it will end up, but I get the feeling after the first 24 hours of this that the big '12' have somewhat miscalculated.
The key issue here is about protecting income streams and return on investment, and that largely because half the clubs involved are in serious debt, with some on the verge of bankruptcy (from memory, they're about 9 billion Euros in debt collectively). Their income base has shrunk because of covid, and the prospect of missing out on Champions League for some of the clubs poses grave risks in the current environment. The deal with JP Morgan is basically a loan guaranteed by as yet unsigned TV rights that apparently needs to be paid back at something like 10% interest. This means that the '12' can't really rely on just the Super League to cover their debt situation, and this is why they want to stay in their domestic leagues while at the same time getting the Super League underway as soon as possible. In that context, not being able to even secure 15 'foundation member' entrants must really fill them with concern, especially with Bayern, PSG, Dortmund, RB Leipzig, Zenit, Porto, and Sevilla all confirming that they have refused to join at this stage.
I think it's also pretty clear that the clubs weren't expecting such a backlash, not just from the fans but also political structures and general public opinion. There are rumours that City and Chelsea, as somewhat reluctant partners (i.e. ones that came on board for fear of missing out rather than because they are 100% behind the idea) are looking to get out, and also think that they can get Spurs on board with that. If that happens this thing is dead before it even starts.
The key issue here is about protecting income streams and return on investment, and that largely because half the clubs involved are in serious debt, with some on the verge of bankruptcy (from memory, they're about 9 billion Euros in debt collectively). Their income base has shrunk because of covid, and the prospect of missing out on Champions League for some of the clubs poses grave risks in the current environment. The deal with JP Morgan is basically a loan guaranteed by as yet unsigned TV rights that apparently needs to be paid back at something like 10% interest. This means that the '12' can't really rely on just the Super League to cover their debt situation, and this is why they want to stay in their domestic leagues while at the same time getting the Super League underway as soon as possible. In that context, not being able to even secure 15 'foundation member' entrants must really fill them with concern, especially with Bayern, PSG, Dortmund, RB Leipzig, Zenit, Porto, and Sevilla all confirming that they have refused to join at this stage.
I think it's also pretty clear that the clubs weren't expecting such a backlash, not just from the fans but also political structures and general public opinion. There are rumours that City and Chelsea, as somewhat reluctant partners (i.e. ones that came on board for fear of missing out rather than because they are 100% behind the idea) are looking to get out, and also think that they can get Spurs on board with that. If that happens this thing is dead before it even starts.