MY ACCOUNT
LaLiga has announced the agreement of an investment deal between private equity fund CVC Capital Partners and Spanish top-flight clubs.
Barcelona, Real Madrid, Athletic Bilbao and another unnamed club were among the teams to oppose the deal, which is worth €2.1billion and went ahead after 37 of the 42 combined clubs in Spain’s Primera and Segunda divisions voted in favour – with 32 the minimum number of votes required for the deal to go through.
The agreement involves LaLiga giving up a percentage of the revenue it generates from TV rights for the next 50 years, while Spanish clubs are provided with an immediate financial boost.
LaLiga president Javier Tebas receives a seven-year contract with the joint venture, leading to criticism regarding a potential conflict of interest.
“We are facing a new milestone in the history of LaLiga and the clubs,” Tebas said after the assembly on Friday that ratified LaLiga’s deal with CVC.
“We are proud to have reached this agreement with CVC, a project that will allow us to continue the transformation towards a global digital entertainment company, strengthening the competition and transforming the experience of the fans.
“Despite all the obstacles that we have encountered along the way, we have carried out this project, which will be a before and after for LaLiga clubs, which will be able to improve their infrastructures, develop their brand internationally and take giant steps to continue strengthening sport and football around the world.”
Official Statement: LaLiga General Assembly ratifies LaLiga Impulso with large majority of support.
The Royal Spanish Football Federation, along with Barca, Madrid, Athletic and the unnamed club, remain opposed to the deal and may now pursue further legal action.
Barcelona president Joan Laporta previously described the deal as like “mortgaging the club’s rights over the next half-century”.
