Real Madrid, Barcelona and Athletic, three of the historic Spanish football players, have sent a joint letter to the other 39 First and Second Division clubs offering them an alternative offer to the one presented by LaLiga with the CVC fund. According to the offer presented, the term is reduced by half (it goes from 50 years of CVC to 25) and the cost of financing is also reduced considerably. The alternative offering to CVC is advised by Key Capital Partners and financially supported by three giants such as Bank of America, JP Morgan and HSBC.
The offer of the three clubs comes just as the professional clubs must vote to approve the agreement with CVC. LaLiga needs 22 of the 42 First and Second clubs to support the initiative for the agreement with the British fund to go ahead in the vote next Friday, December 10.
Real Madrid, Athletic and Barcelona have already expressed their opposition to the agreement between LaLiga and CVC, claiming that there was a risk of losing control of the rights for half a century. The president of Real Madrid explained that better conditions could be achieved in less time and the answer to that is the letter they have sent to the clubs. Depending on the economic scenario, and according to the alternative of the clubs, the so-called ‘Sustainable Project’ represents global savings for clubs of between € 3.8 billion and € 167 billion, which would result, according to them, between a minimum of five and a maximum of 193 times cheaper than that proposed by LaLiga and CVC.