Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Aïda Amer/Axios

Reports of a European Super League have surfaced yet again, marking the latest development in a three-decade fight to wring the best competition — and the most money — out of the continent's best clubs.

Why it matters: Such a league would become the most valuable soccer property aside from the World Cup, but its departure from Europe's promotion-relegation structure would fly in the face of a tradition most are unwilling to give up.

Details: Europe's wealthiest clubs have long sought a better way to monetize their global popularity. The Super League would pit them against each other on a regular basis, or at least a more regular basis than the Champions League offers.

  • Arguments for: Money and competition, which are inextricably linked. A constant stream of elite clubs facing off would be catnip for fans, making it attractive to investors and broadcasters, too.
  • Arguments against: What happens to the dozens of teams across Europe who fail to make the cut? How about the leagues, now stripped of their best teams? Plus, could part of the Champions League's allure be in its rarity?

The big picture: For this to occur, you'd realistically need three things — investors, more clubs publicly supporting the idea and FIFA's stamp of approval.

  • Investors: There's no question that a Super League would make money, so attracting investors is by far the easiest piece of this puzzle. In fact, JPMorgan Chase has already been mentioned as a possible backer.
  • Public support: Real Madrid, Liverpool and Manchester United are rumored to be driving this idea, and Barcelona agreed to join, according to now-former president, Josep Maria Bartomeu. But unless more clubs start publicly backing the concept, it won't gain the momentum needed to make it a reality.
  • FIFA's approval: This is the trickiest of the three, given how much power FIFA has over global soccer. Their sign-off isn't required, but going rogue without their support would be insane.

The bottom line: If a European Super League is ever going to happen, now might be the time, given the financial stress and chaos created by the pandemic. But the concept still faces hurdles that could make it infeasible regardless.

Go deeper: The lessons of the Pirate League (NYT)

Go deeper

Nov 19, 2020 - Sports

NFL expands "intensive" coronavirus restrictions to all teams

Defensive end Arden Key and offensive tackle Sam Young at Allegiant Stadium on Nov. 1. Photo: Ethan Miller/Getty Images

The NFL announced Wednesday that all 32 teams must follow the league's "intensive" coronavirus restrictions for the rest of the season starting this Saturday.

Why it matters: The decision comes after the Las Vegas Raiders placed seven more players on its coronavirus reserve list, bringing the total to 11, according to ESPN.

Dion Rabouin, author of Markets
21 mins ago - Economy & Business

The digital dollar is now high priority for the Fed

Illustration: Aïda Amer/Axios

The U.S. is starting to get serious about a central-bank-backed digital currency, with recent comments from top officials laying out the strongest support yet.

Driving the news: On Tuesday Fed chair Jerome Powell told Congress that developing a digital dollar is a "high priority project for us," but added that there are "significant technical and policy questions."

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Coinbase files to go public

Illustration: Eniola Odetunde/Axios

Cryptocurrency exchange Coinbase on Thursday filed to go public via a $1 billion direct listing.

Why it matters: This comes in the midst of a crypto boom, and the listing may further legitimize the industry.