The Premier League's 'Big Six' have already lost £8m each for their involvement in the doomed Super League project and could face further financial punishment.
After being announced on Sunday evening, the breakaway competition lasted less than 48 hours before imploding on Tuesday. Following widespread criticism and threats of sanctions, the English clubs involved lost their nerve and pulled out.
According to the Daily Mail, the damage may have already been done. It is understood that all 12 of the founding members purchased £8m worth of equity stakes in the competition, which were supposed to fund Super League infrastructure. However, with the rebel clubs' dream now in tatters, it is unclear or perhaps even unlikely that this money will be returned.
In addition, the clubs who supported the project are likely to receive further financial punishment. When joining the Super League they signed a contract committing them to at least three seasons. With that clause breached, they could be in line for significant financial penalties.
This part of the contract was supposed to prevent the rebels from losing their nerve. In the end though, it wasn't enough. Since the plans were unveiled on Sunday evening, criticism of the project has been widespread.
Players, managers and clubs not included in the project have all condemned the breakaway league, with supporters also organising demonstrations against the plans. All of this eventually convinced the Premier League clubs to backtrack, but the story is far from over.
According to Stephen Taylor, head of sports law at JMW Solicitors, JP Morgan - who were funding the multi-billion pound project for the most part - could be preparing a legal challenge against the clubs that have backed out of the Super League.
"They will have been taking legal advice at the highest level and drawing up contracts with clubs on the basis that they are expecting the clubs to commit to this," he explained.