Liverpool and the eight other clubs who performed a U-turn on their involvement in a European Super League breakaway competition won't have to pay any fines for their part in the doomed plot.

European football's governing body, UEFA, had handed down both financial punishment and potential competitive sanctions should the clubs decide to try and achieve lift off with the ESL again in the future.

The nine clubs had agreed to pay a collective £12.8m (€15m) fine for their part in the ESL plot, while they would also hand back five per cent of revenues accrued from UEFA competitions for the current season.

While Liverpool, Manchester United, Manchester City, Chelsea, Arsenal, Tottenham Hotspur, AC Milan, Inter Milan and Atletico Madrid all caved to the pressure placed upon them by an angry public and wider football family, the toxicity of the idea didn't put off Barcelona, Real Madrid and Juventus from pushing ahead with trying to make the plans a reality, entering into a legal dispute via the ESL's holding company A22, of which all the 12 founding clubs were shareholders in, and taking on UEFA, arguing that the organisation was 'monopolistic'.

READ MORE:Liverpool face Virgil van Dijk decision as Real Madrid regret lingers

The three rebel clubs, who are also three of the clubs most impacted financially by the pandemic and were in need of the potentially lucrative boost the ESL would have provided, lodged a motion to try and get the sanctions imposed on the nine clubs who ended up rejecting the idea overturned.

UEFA and the three clubs have remained at loggerheads until UEFA abandoned their action for the time being following a demand from a Madrid judge for the governing body to halt efforts to sanction the rebel clubs.

The saga is not over and UEFA are, according to the Associated Press, seeking the removal of the Madrid judge, which paves the way for legal action to recommence at a later date.

But with the decision to stand down from legal action, UEFA will now not be able to demand money from clubs as a way of punishment. That could save Liverpool millions.

Get all the latest Liverpool breaking news, team news, transfer rumours, injury updates plus analysis of what's next for the Reds.

You'll also get the latest transfer talk and analysis every day for FREE!

Sign up here - it only takes a few seconds!

For starters, the Reds' part in the 'goodwill' fine that was handed down would equate to around £1.4m. But it is the money that they could potentially receive from the Champions League that will be the biggest saving.

By simply qualifying for the competition, and not including the prize money for wins and draws, or assuming qualification beyond the group stages, simply appearing in the group stage and being able to claim the broadcasting rights, market pool and co-efficient payments that go along with it would be worth £58m to Liverpool.

The win over AC Milan means the Reds have already banked £60.4m thanks to a £2.4m prize for picking up three points. At present they would have to hand back just over £3m to UEFA had the fines remained in place. That is a figure that seems set to rise given that £812,000 is banked for a draw and progression from the group stage is worth £8.6m, then worth £9.5m, £10.8m and £13.5m for each round leading to the final. The winners receive the sum of £3.5m.

If Liverpool enjoyed a Champions League winning campaign then they would be on course to earn around £110m through prize money, co-efficient payments and market pool share. If that would be the case then they would be handing back £5.5m to UEFA, adding to the £1.4m 'goodwill payment' that they already made, making a total close on £7m.

Must-read Liverpool FC news

UEFA also previously threatened clubs who tried to enter into negotiations over another ESL plot with €100m fine, although the current state of play legally means that no sanctions are in place. However, UEFA are believed to be willing to enter into a legal fight further down the line.

A statement from Liverpool, provided to The Guardian, reaffirmed the Reds' stance on the ESL.

It read: "Our involvement in the proposed ESL plans has been discontinued.

"We are absolutely committed to following that through and there should be no ambiguity to suggest otherwise.

"We are acting on the best legal advice and approach to appropriately end our involvement."