LaLiga confirms a strategic agreement with the private equity firm CVC Capital Partners to inject 2,700 million euros into the competition and clubs. The ownership stake agreement, the first of its kind for a major European league, values LaLiga at around 24.2 billion euros ($ 28.7 billion), according to the statement. In this way, it will try to offset part of the immediate impact as a result of the coronavirus.
With the investment boost, the Spanish league expects to match or exceed the business of the English Premier League in the next six to seven years, added the LaLiga source. The agreement is expected to be ratified this Wednesday by both the Executive Committee of LaLiga and the CVC Investment Committee. If approved, it could help cash-strapped teams, including FC Barcelona, repair their finances that have been hit by the COVID-19 pandemic.