Real Madrid takes Tebas to court

Real Madrid will go all out against Javier Tebas (who attacked Florentino Pérez on Twitter) and his pact with the CVC investment fund to partially assign him the commercial rights of LaLiga clubs for 50 years. The white club is going to use all the legal tools at its disposal to prevent that agreement from being finalized. The Board of Directors, meeting this morning, has agreed on all the actions, by civil and criminal means, that it will carry out in the courts against those responsible for that pact, as announced this afternoon by the entity in a statement. “The Board of Directors of Real Madrid CF, meeting today at 11:00 a.m., has unanimously agreed to carry out both civil and criminal legal actions against the president of LaLiga, Mr. Javier Tebas Medrano, against Mr. Javier de Jaime Guijarro responsible for the CVC Fund and against the CVC Capital Partners SICAV-FIS Fund itself “says the club.

Madrid will also try to leave no effect on the decisions made in the Assembly that LaLiga has convened with the presence of all the clubs this Thursday to ratify the agreement: “Likewise, the Board of Directors has also decided to carry out legal actions of all kinds that are deemed appropriate to annul and nullify the possible agreements adopted by the LaLiga Assembly, to be held on August 12, 2021, regarding the agreement between LaLiga and the CVC Fund “.

Madrid already expressed their opposition to the project last Thursday, when LaLiga announced its agreement with the British fund. In its statement, the white club publicly denounced that the compromise between the parties was reached without their participation or knowledge and that the institution chaired by Javier Tebas had only allowed the leaders of the Madrid club to access the document, with limitations, on the same day the agreement was announced. Madrid considers that the agreement is detrimental to the patrimony of the clubs, since LaLiga sells assets that at the Bernabéu they consider to have a much greater value. He also announced that he would submit the agreement to debate with his partners at the next assembly of delegates.

The agreement reached by LaLiga implies that the clubs would receive an economic injection of 2.46 billion euros to clean up the deterioration suffered by their accounts due to the crisis derived from the coronavirus. LaLiga would transfer that amount in the form of participative loans to the clubs, which would have to return the money, without interest, within 40 years. The distribution would be made in proportion to the participation of the clubs in the income from the audiovisual rights of the last seven seasons.

In exchange for your financial contribution, the investment fund CVC would obtain a 10.95% stake in LaLiga's business, with no expiration date. It would also take 10.95% of the audiovisual income of the championship for 50 years.