Laughing at Sky here.
They basically paid the top teams to leave the Football league and create the Premiership and have pouring money into it ever since.
The Clubs wouldn't be doing it if there TV money wasn't already there, for them to risk going public like this. Sky are just moving in on UEFA's cut of the money by cutting them out all together, they will just deal with the clubs directly in future.
UEFA were extracting the urine, they want to expand the "Champions League" even further because it is their big Cash Cow. The big clubs are fed up with having to fly to the middle of nowhere midweek every few weeks when they are now playing 2-3 days before and after it domestically. The New Euro League would allow clubs and the fans to plan better. No more draws for a fortnight's time where suddenly the team and the supporters have to work out how the hell they are going to get to Azerbaijan and back.