According to a report by El Confidencial, all 12 of the founding clubs of the European Super League still own shares of the company. Arsenal, Chelsea, Manchester United, Manchester City, Tottenham Hotspur, Liverpool, AC Milan, Inter Milan and Atletico Madrid have reportedly only verbally pulled out of the proposed tournament.

Only Barcelona, Real Madrid and Juventus remain protesting against UEFA’s clampdown on the project. However, despite the other clubs being spared the full wrath of UEFA, they all own shares of the European Super League Company SL. And they have refused to relinquish their shares of the company as well.

The tournament was abandoned following massive protests from fans all across the world. And according to the President of the proposed tournament, Florentino Perez, the plans remain ‘suspended’ while legal battles continue over it.

The main alluring reason behind clubs wanting to break away was due to the financial angle. Simply participating in the Super League would give the clubs more money than winning the Champions League, and due to the financial situation right now, that was deemed ‘essential’ by Perez.

Whether or not the plans for the tournament to potentially replace the Champions League will ever materialise again remain to be seen. However, the chances of that happening due to the financial burden and the bond signed with UEFA remain very slim.

Barcelona, Juventus and Real Madrid are expected to face some form of punishment from the governing body of European football. But what that ultimately turns out to be remains to be seen.