Real Madrid, Barça and Athletic bring LaLiga's contract with CVC to justice

Real Madrid, FC Barcelona and Athletic Club de Bilbao have announced this Wednesday in a joint statement who have taken legal action against LaLiga for the agreement with the investment fund CVC. This contract, signed last weekend, represents a million-dollar investment by the fund in exchange for retaining 11% of the audiovisual rights, recently awarded for the next five years. All three were the only teams to vote against the deal when it was announced and, again, at its final ratification last Friday.

The LaLiga-CVC agreement opens a battle in football that has little to do with sport and a lot to do with money

The LaLiga-CVC agreement opens a battle in football that has little to do with sport and a lot to do with money

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It is precisely this last assembly that these teams bring to justice. In a concise six-line note, the clubs - the only ones that have been in the first division since its creation in the 1920s - assure that it is an "illegal transaction" that causes "irreparable damage" to everything. the Spanish soccer sector and that "flagrantly violates" the principles of Spanish sports law and the LaLiga statutes.

The case dates back to August 4. LaLiga announces an agreement with CVC whereby the fund acquires 10% of the soccer business in Spain for 2,700 million euros. The objective, explained LaLiga, was to allocate this money to improve the financing of the teams, their technological transformation and, in part, to signings and contracts. In exchange, the fund received a part of the audiovisual rights that correspond to the clubs for the next fifty years.

This fact caused an earthquake in professional football in Spain, because the three clubs that are now taking legal action against the agreement were unchecked and rejected the agreement, which did had the endorsement of the other 38 teams that make up the business organization (those of the first and second division). This forced a slight reformulation of the parameters of the agreement. The fund would invest less money, 1,994 million euros, which Real Madrid, Barça and Athletic will not be able to access, nor will they give up the percentage of the audiovisual rights that corresponded to them.

This same week, LaLiga announced the award of the new first division audiovisual rights for the next five seasons. It will be 4,950 million euros that Telefónica and Dazn will invest the next ones, at a rate of 990 million per season, to offer the 10 games of each day. The previous contract, which expires next summer, put the rights at about 1,100 million euros per season, although on that occasion the award was made jointly with the second division. The figures show the enormous volume of income that is in dispute between LaLiga, CVC and the wayward clubs.

The LaLiga Impulso project, as it has been called by the employers, also has the rejection of the Royal Spanish Football Federation, who offered last week to the clubs opposed to the agreement to "help build solutions that are compatible with our legal system and preserve the traditional values ​​of Spanish football ".


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