Well they probably weren’t expecting any of the clubs that signed up, would back out within 48 hours. This whole concept is based on the big clubs in need of financial help coming together to maintain their position. City and Chelsea just went along with it to not be out of the loop, and now they’ve backed out, with the government involved and UEFA looking to get a bigger deal.
What would be stupid is if they gave these clubs the option to sign out, and still went ahead with the announcement. Will be interesting to see the legal ramifications.