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NEWS

LA LIGA

BARCELONA

REAL MADRID

ATHLETIC BILBAO

Bilbao, Barcelona and Madrid join hands in obstructing the deal between CVC and La Liga

Top Spanish first division clubs have proposed an alternative to La Liga’s CVC deal that does not involve the league’s stakes.

Official La Liga logo

Official La Liga logo

The original deal involved La Liga selling 10% of its commercial business and media rights to private equity firm CVC in return for 2 billion euros of investment. 

 

There was strong criticism from Barcelona and Real Madrid as the top-flight giants weren’t on board with selling the league’s stakes and giving control of media rights to a private entity. 

 

As things stand, all 39 clubs across the Spanish leagues except Barca, Madrid and Athletic, have given the go-ahead to seal the deal, with the final voting due on December 10th 2021. 

 

There has been a new twist in the tale with the three dissenters of the deal, now proposing a 2 billion euros investment deal that would involve banks including Bank of America Corp., JPMorgan Chase & Co. and HSBC Holdings Plc.

As per the new deal, the rate of interest on the debt would be somewhere around 2.5-3%, payable in 25 years, unlike the CVC deal, which involves a revenue share of 10% and access to media rights for the next 50 years.  

 

With back to back setbacks in Germany and Italy, CVC was hopeful of sealing a deal in Spain with La Liga. But whether the new proposal from Spain’s top clubs will change the minds of others remains to be seen.

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