Arsenal have withdrawn from the European Super League and apologised to their fans and the wider football community.
The Gunners made the announcement in a statement on Tuesday night, just 48 hours after revealing they would be one of the 12 founding members of the new League.
Manchester City had revealed they were pulling out of the radical new plan earlier in the day, with Manchester United, Liverpool, Tottenham and Chelsea also following suit.
What have Arsenal said?
A statement released by the Arsenal board on the club’s website said: “The last few days have shown us yet again the depth of feeling our supporters around the world have for this great club and the game we love.
"We needed no reminding of this but the response from supporters in recent days has given us time for further reflection and deep thought.
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"It was never our intention to cause such distress, however when the invitation to join the Super League came, while knowing there were no guarantees, we did not want to be left behind to ensure we protected Arsenal and its future.
"As a result of listening to you and the wider football community over recent days we are withdrawing from the proposed Super League. We made a mistake, and we apologise for it."
What’s next?
After revealing they had joined the Super League in a bid to "bring the security the game needs", Arsenal called on others to now work together to "fix" the current system.
The statement said: “We know it will take time to restore your faith in what we are trying to achieve here at Arsenal, but let us be clear that the decision to be part of the Super League was driven by our desire to protect Arsenal, the club you love, and to support the game you love through greater solidarity and financial stability.
“Stability is essential for the game to prosper and we will continue to strive to bring the security the game needs to move forward.
“The system needs to be fixed. We must work together to find solutions which protect the future of the game and harness the extraordinary power football has to get us on the edge of our seats.
“Finally, we know this has been hugely unsettling at the end of what has been an incredibly difficult year for us all. Our aim is always to make the right decisions for this great football club, to protect it for the future and to take us forward. We didn’t make the right decision here, which we fully accept. We have heard you.”
Will the fans be satisfied?
No. An anti-Super League protest that was planned to take place ahead of Friday night’s home game against Everton will now centre around owner Stan Kroenke.
Organisers have made it clear that the protest will still go ahead, but the theme will centre around the fans’ desire to get the American billionaire out of the club. It is due to begin at 6pm outside Emirates Stadium.