The European Super League was collapsing on Tuesday night after all six English clubs dramatically signalled their intention to withdraw from the competition after being taken aback by the furious backlash from fans and the government, Guardian understands.
It left the £4.5bn league dead in the water less than 48 hours after it was launched, with Chelsea the first go to followed by Manchester City and then, shortly before 11 pm, by Arsenal, Manchester United, Liverpool and Tottenham.
The stunning set of U-turns leaves the reputations of the clubs' owners at an all-time low as they attempt to repair their relationship with supporters.
Manchester United's executive vice-chairman, Ed Woodward, a key architect of the planned breakaway, also resigned after his position became untenable.
The remaining members of the proposed European Super League said they would "reconsider the most appropriate steps to reshape the project" following the withdrawal of all six English teams.
Real Madrid, Barcelona, Atletico Madrid, AC Milan, Inter Milan and Juventus released a collective statement in the early hours of Wednesday morning.
"Despite the announced departure of the English clubs, forced to take such decisions due to the pressure on them, we are convinced our proposal is fully aligned with European law and regulations," an ESL statement said.
"Given the current circumstances, we shall reconsider the most appropriate steps to reshape the project, always having in mind our goals of offering fans the best experience possible while enhancing solidarity payments for the entire football community."
The pullout by English clubs left just half of the original 12 "founder members" of the super league.
The U-turn from the clubs came after a widespread public backlash and amid mounting pressure from the government and the football leagues.
Boris Johnson described the plans for the Super League as a "cartel" and warned he would use a "legislative bomb" to stop English clubs from joining.
Italian giants Milan and Internazionale were on Tuesday night reportedly also considering jumping ship, leaving a third Serie A club, Juventus, and Spanish trio Real Madrid, Atlético Madrid and Barcelona as the last standing members of the breakaway group.