Fenway Sports Group's (FSG) position at Liverpool may become untenable after their attempt to launch a European Super League, according to club great Jamie Carragher, while Gary Neville believes time is up for the Glazer family at Manchester United.

Liverpool and United, along with Manchester City, Arsenal, Chelsea and Tottenham, along with teams from Spain and Italy, announced their intention to join a breakaway competition, sparking furore across the spectrum.

UEFA responded in force, threatening bans to clubs and players alike, with FIFA offering its support.

Governing bodies and football associations also condemned the move, while supporters gathered outside grounds to protest.

In a remarkable shift, the pressure told, with City formally announcing its withdrawal from the competition. Liverpool and United, along with the other English teams, followed suit.

While it remains to be seen what punishment, if any, will be handed out, Sky Sports pundits Carragher and Neville believe the ownerships of their respective clubs may have run their course.

"I'm as angry at Liverpool now as I was yesterday," Carragher said shortly before Liverpool's confirmation it had left the competition.  

"Jurgen Klopp has thrown them under the bus, their own captain has thrown them under the bus, with the rest of the squad. There's nothing left for Liverpool's owners in what they're doing, what they're hanging on for.

"I actually think the situation with Liverpool's owners now – I don't see how they can continue. They can't just leave the club, obviously, it's a business. It's worth a lot of money if they sell it, but I don't see a future for the ownership of FSG at Liverpool anymore on the back of this, and I think they're just making it worse for themselves the longer they hang in."

Joel and Avram Glazer have long been unpopular with United's fanbase, meanwhile. On Wednesday (AEST), it was confirmed Ed Woodward – the club's executive vice-chairman – would be leaving at the end of 2021.

"Ed Woodward is the trunk of the tree, we now need to go for the roots. [The Glazers] have declared their hand, while they were peacefully sat at the club, never showing their hand," Neville said. "They were taking money out of the club, leveraging the club, there's nothing we could do about that once the club became a PLC but they attacked every single football fan in this country with what they did.

"The Glazers have no place in Manchester anymore and we have to work hard to ensure that ownership rules in this country are changed, that we have a system whereby this can not happen, whether it's government intervention, an independent regulator, a fan-owned club rule.

"Whatever it is, we have to make sure that this is a catalyst for change. The people have spoken, we were on the brink of anarchy if this continued. These six sets of owners in this country and the other ones in Europe have misread this situation badly."