LaLiga News: Madrid and Barcelona beat LaLiga over € 2.7 billion CVC deal

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Real Madrid and Barcelona have both released fierce criticism of La Liga after confirming a € 2.7bn (£ 2.3bn) deal with CVC Capital Partners, which will see the private equity firm acquire 10% of the business. of the league.

LaLiga announced Wednesday that CVC will have a 10% stake in a new business, which is forming with a focus on the league’s commercial initiatives. He insisted that the deal does not cover league management or broadcasting rights.

The agreement will value LaLiga at 24.3 billion euros, with the agreement unanimously approved by the La Liga Executive Committee and which will be proposed to the general assembly of the league.

LaLiga, which controls the top two divisions of Spanish football, said 90% of CVC’s € 2.7 billion investment will go to its clubs.

However, both Real and Barça expressed their disapproval in the statements, arguing that the clubs were not properly consulted on the deal.

The giants of the Clasico claim that the agreement will cover the audiovisual rights of all clubs for the next 50 years.

The Madrid declaration reads, in part: “The clubs have surrendered their audiovisual rights exclusively for their sale on a competitive basis for a period of three years.

“This agreement, through a misleading structure, expropriates 10.95% of the clubs’ audiovisual rights for the next 50 years, in violation of the law.”

Barça, which announced Wednesday that Lionel Messi will not sign a new contract due to “economic and structural obstacles”, wrote: “FC Barcelona believe it is inappropriate to sign a half-century deal given the uncertainties that always surround the game. world of football.

“The terms of the contract that LaLiga is describing condemn the future of FC Barcelona in regards to broadcasting rights.

“FC Barcelona would like to express their surprise at a LaLiga-led agreement in which the views of teams, including those of FC Barcelona, ​​were not taken into consideration. There was not even a presentation of the options offered by other competitors to evaluate the pros and cons in a post-pandemic situation in which there are still many questions left unanswered ».

Madrid concluded: “Real Madrid cannot support a company that hands over the future of 42 Primera and Segunda Division clubs to a group of investors, not to mention the future of those clubs that will qualify in the next 50 years.

“Real Madrid will convene the Assembly of Representative Members to discuss the agreement and discuss the significant loss of equity, unprecedented in our 119-year history.”

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