The league and CVC These weeks final details of their definitive agreement are being finalized, which will be submitted to the ratification of the clubs in an extraordinary assembly that the employer will convene for the first half of December. After more than three months of meticulous work in the legal offices of both entities to shape an operation of great technical complexity, the torrent of money from the Investment fund It will be available to the clubs before the end of the year.
The forecast was that the contract would be signed at the end of October, but the terms have been delayed due to the numerous legal conditions that it entails. Among other tasks, the management has had to retouch all the television rights contracts that it has signed all over the world to adapt them to the new corporate structure, since its management will depend from now on a new company created ‘ad hoc’ and owned by CVC. “They are putting a lot of effort into putting together impeccable legal structures, because they know that Florentino Pérez is going to go with everything to knock them down in court, “they point out from a club First division.
The agreement will provide the First and Second clubs with a maximum injection of around 2,000 million euros, in exchange for the investment fund acquiring a percentage of the television rights of the competition close to 10% during the next 50 years. The body chaired by Javier Tebas It will be the one that receives, on behalf of the clubs, the economic amount of the transaction and then makes it available to the clubs in the form of interest-free loans. Real Madrid, Athletic and Barcelona they stayed outside the global agreement and later challenged it, although the Barça team has been leaving the door open to rethink their position if some of the conditions of the agreement change.
800 million already
The clubs are already informed that the signing of the agreement will be signed during the first half of December and that the first payments, scheduled for October, will be made before the end of 2021. An essential oxygen balloon for the most financially drowned clubs, already that in January almost all of them produce fertilizer of about half of the chips from football players and technicians. The agreement is that CVC will contribute 40% of the total amount of the operation in the next month and a half, around 800 million euros.
But as with the European Funds, injecting money clubs will not be unconditional, but will be linked to specific projects that allow their growth in different areas, especially those linked to infrastructure, marketing, communication and innovation. This way, 70% of the money will be distributed, while 15% is destined to increase salary limits and another 15% to restructure debt, two sections that convinced several clubs that they had doubts about the project.
Since the announcement of the agreement, last August, LaLiga has been working to equip itself with a specific structure that allows the orderly management of the project, baptized as LaLiga Impulso. In this context the return of the executive is framed Javier Gomez as corporate general director and the creation of a specific department to study the proposals of the clubs and supervise their fulfillment, led by Jose Guerra, who until now held the position assumed by Gómez and who has become the director of LaLiga Impulso.
The workers in this office will function as a sort of ‘men in black’ who will ensure the correct use of the funds, with the aim of guaranteeing that the money that reaches the clubs will be used for the growth of the entity. “It is not enough to say that you want X million to grow in, what do I know, Thailand. You have to argue in great detail why it is a necessary investment for the club, what are you going to spend it on specifically and how that will help you to generate added value. In the end, it is everyone’s money and if one fails, we all pay the consequences, because that money will sooner or later be put back into circulation, “they exemplify from the offices of a Segunda club.
Not everything goes
Likewise, LaLiga has warned clubs that not all investments in infrastructures They will be able to benefit from these funds, but only those that, depending on various parameters, are considered convenient. “If I want to build a 30,000-seat stadium, they will not allow me to finance it with CVC funds, because it is clear that my club will never have the capacity to fill it. And the same will happen if a club thinks of building a sports city. gigantic and has four quarry teams. It’s not going to be worth everything, “says another club from Segunda.
This entire ‘men in black’ structure will be completed with the creation of a club commission to assume the executive decisions related to LaLiga Impulso. The entities that will be represented in that committee have not yet been decided, although there are already unofficial movements to position themselves in that commission.
The work of the clubs in these months of waiting until the definitive signature is consisting of the elaboration of very exhaustive reports, demanded by LaLiga, on their situation in multiple aspects. “From the capacity of your stadium or the fans you have to the resources you dedicate to digital marketing in each of the markets in which we operate,” they exemplify from a First-class club. They are reports “more than 500 points“that are giving severe headaches to the smallest entities in the Second Division, the ones with the least structure.
Meanwhile, LaLiga is still pending the contest for the award of audiovisual rights in Spain for the next seasons. An auction process that is already open and that will culminate on December 22 in an unpredictable way, due to the variety of lots offered by the body chaired by Javier Tebas and the multiple combinations to acquire them, which could lead to the coexistence of two or three different operators issuing the soccer starting next year.