The six rebel English clubs that signed up to the European Super League have reached a financial settlement with the Premier League worth a combined 22 million pounds (USD 31 million), the league said on Wednesday. Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham announced themselves as founder members of the competition in April, but the project quickly collapsed after widespread opposition. "The six clubs involved in proposals to form a European Super League have today acknowledged once again that their actions were a mistake, and have reconfirmed their commitment to the Premier League and the future of the English game," the Premier League said in a statement.

"They have wholeheartedly apologised to their fans, fellow clubs, the Premier League and the FA (Football Association). "As a gesture of goodwill, the clubs have collectively agreed to make a contribution of 22 million pounds, which will go towards the good of the game, including new investment in support for fans, grassroots football and community programmes." The clubs have also agreed to support rule changes so that any similar actions in the future would lead to a 30-point deduction. Each of the six clubs, in that event, would also be subject to an additional 25 million pounds.