madrid
Updated:09/17/2021 18:37h
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Athletic de Bilbao, Barcelona and Real Madrid communicate that have challenged the agreement adopted by the League Assembly on August 12, 2021, regarding the operation between LaLiga and CVC, as it is an agreement that violates the provisions of the applicable regulations (and, in particular, among others , Royal Decree-Law 5/2015) and that was adopted within the framework of a procedure notoriously irregular and disrespectful to the bare minimum guarantees required for these purposes, especially in the face of an operation of such significance and duration.
Although three teams were excluded from the sale of 10 percent of the League’s rights for half a century, the three entities consider that current regulations are violated and do not admit this “irregular” transfer of rights.
The employer, presided over by Thebes, excluded the three clubs to get that injection of money from the investment fund CVC, based in Luxembourg, but not even that exclusion has prevented the challenge.
In August, Real Madrid expressed its frontal opposition to the agreement by which CVC will inject 2,667 million in the Spanish league competition in exchange for 11 percent of its non-audiovisual business, and to participate in the income generated by long-term television rights, for fifty years.
Then, Real Madrid called the structure used by the parties “misleading”, since in his opinion it expropriates «10.95% of the audiovisual rights for 50 years and against the law ». Today, he has confirmed that position, together with Barcelona and Athletic, by stating that he challenges that agreement.
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