LaLiga wanted to respond immediately to the letter that, according to various media, has been sent by the Real Madrid CF, Athletic Club and FC Barcelona to the rest of the member clubs of the General Assembly of LaLiga, in which a hypothetical offer of financing is transferred, at 2.5-3% interest to 25 years, by JP Morgan, Bank of America and HSBC to the clubs LaLiga.
A very harsh writing where he considers that presenting an offer on the night of December 2 knowing that the Assembly It will be on December 10, and knowing the operation from August 12, “shows that the intention is to derail a project that endangers their individual objectives even if for this they have to destroy the collective future of the competition and their clubs “
In addition, according to the employer, it is a “collective financing through a loan that presents a significant absence of essential details to understand the viability of the same”, even going so far as to affirm that it is “impossible to comply with for most of the clubs participating in the competition, including the FC Barcelona“.
LaLiga defends this “Impulse League” project and CVC which is also ready to begin the transformation. “On the contrary, the operation presented in this letter is based on an improvised proposal prepared without the minimum rigor required.”
Not only that, LaLig also exposes that trying to compare the LaLiga project with CVC is “not having understood at all the reality of LaLiga Impulse, which is much more than a financing operation. The Impulse Project aims to incorporate an industrial partner with extensive experience in Spain and in the sports rights sector that contributes long-term capital and proven industrial experience to help LaLiga and its clubs grow globally at a time of great challenges and uncertainties for the industry . “
In the statement, he also argues the history that has CVC “of operational and commercial improvement, as is the case of MotoGP, F1, Rugby, Voleibol or Cricket. CVC is a partner with experience in the sector and a broad international presence that will help in the improvement process “
He also defends that this agreement does not respond to “a liquidity problem of the clubs of LaLiga but rather a strategic project to guarantee competitiveness and growth in the medium and long term of the competition and its clubs. As explained, 70% of the funds from the Impulso project will go to long-term value creation projects. CVC will help LaLiga and the clubs -including those not adhered to the project- to optimize the use of these funds, with the aim of increasing the value of the competition in the long term “
Finally, it ends by referring to the Superliga arguing that surprise at the fact that “the drivers of the Superliga, which was lethal for the national leagues, show concern for a project that the majority of LaLiga clubs approve and that does not affect them financially “
If he does not get a majority support, LaLiga would not go ahead with CVC
Now everything is subject to the General Assembly on December 10 where, as you have learned Sports world, the Liga impulse project with CVC he would need a sufficient majority of the clubs to get by. In other words, this supposes the support of 21 of the 42 clubs of the current employer’s association.
The employers are committed to this project and seek to achieve majority support that reaches the 39 clubs that have so far backed this agreement with the investment fund. What’s more, and as this newspaper has learned, LaLiga It is clear that if the support this day is not majority, it will not go ahead with the project. That is to say, even in the case of obtaining the necessary 21 votes, the operation would not go ahead since it understands that a project of this magnitude requires the majority support of the clubs.
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