JP Morgan Chase CEO on $4.8 Billion European Super League Investment: 'We kind of missed it a little bit'
JP Morgan Chase agreed to invest $4.8 billion in the quickly abandoned European Super League. To see an idea with so much money behind it fail so quickly and spectacularly was truly something to watch. But what about the people who made the incredibly ill-informed decision to invest nearly five billion dollars in something that, again, failed quickly and spectacularly? Well, nothing.
All-timer quote from JP Morgan Chase CEO Jamie Dimon to WSJ on misjudging the fan blowback to their Super League project. "I'm not an expert on European sports, but obviously it is a lot of fandom ... We kind of missed it a little bit." (HT @SuperIgor)pic.twitter.com/4mMPgfqUu9
— Grant Wahl (@GrantWahl) May 6, 2021
"We kind of missed it a little bit."
Ya think!?
It is incredible that this guy gets to go whoopsie! about a $4.8 billion decision and admit they didn't know anything about European sports. They were apparently surprised to learn that there was a lot of fandom and those fans have views and opinions.
Should someone have not looked into this before committing all that money? Is that not the entire job? Is it not? Do they regularly say they'll give billions of dollars to people who show up and say they have an idea and nobody figures out if it's a good idea or not before saying yes? Seems like it would be part of the job. But then again, I'm not an expert.