Football club shares jump after Super League announcement

The announcement of the Super League on Sunday was condemned by football authorities across Europe and by political leaders including the French president and British prime minister. Picture: Anthony Devlin

Shares in Italian soccer club Juventus and England's Manchester United jumped on Monday after they and 10 other top European clubs announced the formation of a breakaway Super League.

Juventus' share price surged over 12% as shareholders welcomed the move that sets up a rival to UEFA's established Champions League, Europe's most prestigious club competition, and sparks a bitter battle for the sport's lucrative revenues.