What Europe’s football revolt tells us about Biden’s plan to tax the rich

Chelsea fans protest against the European Super League outside the stadium before the match. — Reuters

AMERICA’S greed-drenched hedge fund billionaires and their unrelenting brand of late-stage capitalism can seem unstoppable, with the super-rich even adding to their massive wealth in the depths of a deadly pandemic. But made-in-the-USA greed finally met its match when it tried to take on England’s merry band of football supporters.

The recent scheme for a European Super League of that continent’s richest football clubs – enthusiastically backed by American billionaires like Arsenal’s Stan Kroenke, Liverpool’s John Henry and Manchester United’s Glazer family – looked very much like a Wall Street-leveraged buyout of the world’s most popular sport.