Home Sport news Madrid, Barça and Athletic challenge LaLiga’s agreement with CVC

Madrid, Barça and Athletic challenge LaLiga’s agreement with CVC

by archysport

They consider that “it violates the provisions of the applicable regulations and that it was adopted within the framework of a notoriously irregular and disrespectful procedure with the minimum required guarantees”

R. C. Madrid

Friday 17 September 2021, 20:34

Real Madrid, Barça and Athletic have challenged the agreement adopted by the LaLiga Assembly on August 12, 2021, regarding the operation between the clubs’ employers and the CVC investment fund. The three clubs consider that “it violates the provisions of the applicable regulations (and, in particular, among others, Royal Decree-Law 5/2015) and was adopted within the framework of a notoriously irregular and disrespectful procedure with the minimum guarantees required to these effects, especially in the face of an operation of such transcendence and duration ”.

The Spanish professional football clubs, meeting in an assembly, approved by a large majority -except for the aforementioned Madrid, Barça and Athletic, in addition to Oviedo- the agreement with the CVC fund for which they will receive a credit line of some 2,100 million euros. euros – initially they were 2,667.5 including the three clubs that rejected the deal. This injection of liquidity would be returned at low interest for 40 years in exchange for 9% of LaLiga’s profits over the next 50 years.

For its part, LaLiga expresses its surprise at the position of the three clubs on “something they do not know” when also “they would not be affected economically, only benefited from the growth that LaLiga is going to have in the coming years.” He also recalls the broad support for the operation by the clubs and clarifies that “the agreement between LaLiga and CVC is a strategic association, it is not a financial operation as these clubs express in their statement.”

The body chaired by Javier Tebas especially affects the position of Real Madrid and points out that “in recent years more than twenty judicial decisions related to the projects, agreements and acts of LaLiga derived from the application of the Royal Decree-Law have been rejected 5/2015 and the audiovisual commercialization process, the current situation being one more example of their attitude in recent years contrary to the common interests of the rest of the LaLiga clubs and the development of the competition ”.

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