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 ($31 million), reports 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.

Sky News reported the settlement on Wednesday and sources at one of the clubs told Britain’s Press Association that agreement had been reached, with clubs facing a £25 million fine and 30-point deduction if there are further attempts to break away.

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