Manchester City, Manchester United, Chelsea, Tottenham, Liverpool, and Arsenal were the teams who signed up for the ill-fated breakaway and any repeats of the concept in the future will be met with a £25m fine and a hefty 30-point deduction.
It is also understood that the money will go towards grassroots football and the wider football community.
Back in April, the Premier League Clubs backed out from the proposals amid a huge external backlash but Juventus, Real Madrid, and Barcelona are still in support of the idea, insisting football is facing an “inevitable downfall” without reform.
The three clubs said they are within their rights to form a new competition and claim that UEFA and FIFA have no right to get in their way.
The three European giants are facing disciplinary proceedings from FIFA over their plans to form the European Super League and are reportedly set to be banned from the Champions League competition.