The Extraordinary General Assembly of LaLiga has approved this Friday the agreement with the British investment fund CVC Capital Partners by which it will inject 1,994 million euros in exchange for 9% of the audiovisual rights for 50 years, with the support of 37 of the 42 clubs that form it, four votes against and one abstention.
LaLiga confirmed that the first economic injection, of 400 million, will reach the clubs in a few weeks and they will be able to start their projects to improve infrastructure, digitization and internationalization, among others.
Through this agreement, CVC becomes “an industrial partner of LaLiga and its clubs with the aim of boosting its global growth, continuing the transformation into a global digital entertainment company”.
In exchange for this money, clubs must allocate 70% of the resources they receive within the framework of this project to operations related to its development, both in infrastructures and in technological innovation, being able to have up to an additional 15% for the registration of players. and the other 15% for the restructuring of its financial debt.
The opposition clubs Real Madrid, Barcelona and Athletic Club, and promoters of the alternative Sustainable Project, participated in the Assembly hours after having asked the Higher Sports Council (CSD) to cancel it and to announce legal actions since it did not do so. and declared himself incompetent to make decisions about the LaLiga deal.
A milestone in LaLiga history
The general directors of Real Madrid and Athletic, José Ángel Sánchez and Jon Berasategui were present in person, and by videoconference, Mateo Alemany, director of the Barcelona football area, intervened.
The president of LaLiga, Javier Tebas, assured that the approval of the agreement with CVC Capital Partners represents “a new milestone in the history of LaLiga and the clubs” and was proud of having carried out the project “despite all the obstacles” found.
“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 fans,” he said.
The commitment to CVC Capital Partners, called LaLiga Impulso, was presented and endorsed by the clubs in August and unanimously approved by the LaLiga Executive Committee.
Reformulated to adapt it to the participation of its clubs, it represents an investment of 1,994 million euros in exchange for the value of 9% of the audiovisual rights over the next 50 years.
The clubs undertake to allocate up to 70% to invest in infrastructure, international, brand and product development, communication strategy, innovation plans, technology and content development on digital platforms and social networks. Another 15% will be for the registration of players and the other 15% for financial debt.
Stadium reforms, debt cancellation, innovation … This is how LaLiga clubs will invest the funds received from CVC
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