La Liga and Cvc Agreement

The deal, called “LaLiga Boost,” buys CVC an 8.2 percent stake in a new company that will receive broadcast revenue and sponsorship rights for 50 years. At LaLiga`s Annual General Meeting on Friday, 37 of LaLiga`s 42 clubs agreed to agree to work with global investment firm CVC on the LaLiga Impulso project. However, three of the clubs that did not vote in favour of the proposal will take legal action. The initial deal, first announced in August, was worth €2.7 billion ($3.04 billion) before Real Madrid, Barcelona and Athletic Bilbao pulled out of the deal. These clubs do not receive money from CVC, but retain their full allocation of revenues from central media rights. LaLiga and CVC Fund VIII today signed a strategic agreement that launches Boost LaLiga (“LaLiga Impulso”), the project to promote the global growth of LaLiga and its clubs. The collaboration will take effect after the LaLiga General Assembly ratifies the agreement by a large majority The groundbreaking agreement between LaLiga and CVC Fund VIII sets a precedent for other European leagues and the wider sports and entertainment industry, a sector full of passion, excitement and dynamism, but which is constantly evolving and must adapt to new growth opportunities. LaLiga strives to be a global leader with the best content, a digital presence and a solid data collection and analysis that enables direct interaction with fans across all available channels and with a particular focus on a younger, international audience. “[The agreement] with venture capital fund CVC is an illegal transaction that causes irreparable damage to the Spanish football sector as a whole and flagrantly violates the most basic principles of Spanish sports law and the statutes of LaLiga.” Boost LaLiga will allow LaLiga and its clubs to adapt to the modern needs of the industry with the support of CVC, a partner with many years of experience.

The agreement was signed with LaLiga for a historic €24.25 billion by leading independent experts Rothschild & Co and Duff & Phelps. LaLiga was advised by Uría Menéndez, KPMG and Bibium Capital, while CVC was advised by Latham & Watkins, Two Circles and Oliver & Ohlbaum. This is the third time CVC has tried to invest in a leading European league after separate plans with Italy`s Serie A and Germany`s Bundesliga to sell some media rights were dropped earlier this year. These clubs are Real Madrid, Barcelona and Athletic, the three most vocal opponents to date of the agreement to invest nearly two billion euros in LaLiga in exchange for a future percentage of audiovisual rights. LaLiga President Javier Tebas said: “This agreement is a historic milestone not only for LaLiga, but also for football and sport in general. LaLiga and its clubs now have the best possible partner to successfully anticipate and manage the changes on the horizon and I believe we are setting a precedent for other leagues in Europe and around the world. “Athletic Club, Barcelona and Real Madrid hereby announce that legal action has been taken against the agreements adopted by the LaLiga meeting on 10 December, which approved the so-called Proyecto Impulso that LaLiga intends to conclude with the private equity fund CVC, on the grounds that it is an illegal transaction that causes irreparable damage to the entire Spanish football industry and openly opposes the rape. the most basic principles of Spain`s sports law and LaLiga`s own statutes,” the three clubs said in a joint statement on Wednesday.

This is the first investment agreement of a private equity firm in a major European league. La Liga has ratified its deal with private equity firm CVC Capital Partners, but several top teams are still fighting the deal. In a war of words with LaLiga president Javier Tebas, all three teams claim that the CVC deal has been pushed towards clubs that are suffering financially from the coronavirus crisis. “Athletic Bilbao, Barcelona and Real Madrid report that they have filed a lawsuit in response to the agreements reached by the LaLiga meeting regarding the so-called Project Impulse,” the three clubs said in a joint statement on Wednesday. The agreement between LaLiga and CVC Fund VIII provides that the league and clubs will receive a total of €1.994 billion, which will be used for technology, innovation, internationalisation and sports growth initiatives. . The Clasico still has a unique historical and cultural status built over decades, even though the quality of both parties has declined The €2 billion ($2.25 billion) deal will allow the company to secure an 8.25% stake in a company made up of LaLiga`s media rights for the next 50 years. LaLiga president Javier Tebas on CVC, the European Super League and an evolving media strategy Sunday`s signing follows the ratification of Boost LaLiga by a large majority by the LaLiga General Assembly on Friday, with 37 of the 42 clubs voting in favour. The deal could provide additional funding to popular clubs such as Paris Saint-Germain and Olympique de Marseille. Goldman Sachs will contribute with some of the funds that CVC will invest in the Spanish football league and reconquer more than 50 years, laLiga and funding sources said. Another Saturday, another chance to win £250,000 with Super 6.

Play for free, admission until 3pm. Spanish clubs are allowed to spend up to 70% of funds from infrastructure investments, 15% on debt service and 15% on player signing. Thirty-seven clubs voted for the “La Liga Boost” deal, which buys CVC an 8.2% stake in a new company that will receive revenue from broadcasting and sponsorship; But Real Madrid, Barcelona and Athletic Bilbao are taking action, saying the deal will cause “irreparable damage” Four clubs, including the three that are taking legal action, have pulled out, while another club has abstained. Real Madrid, Barcelona, Athletic Bilbao and Ibiza rejected the deal, saying they would take legal action to stop it. The clubs had the choice to vote against the agreement. . The agreement requires clubs to allocate 70% of the funds to investments in new infrastructure and modernisation projects, 15% of which is reserved for the signing of new players. .