Spain: Real Madrid CF and FC Barcelona reject LaLiga's agreement with investment firm CVC

Real Madrid CF and FC Barcelona have rejected the agreement between LaLiga and the Luxembourg-based investment firm CVC Capital Partners, deeming it insufficiently remunerative in relation to its 50-year term, according to the two LaLiga Santander clubs on 05/08/2021.

"LaLiga announces an agreement in principle with CVC that will inject €2.7bn into the competition and its clubs. The operation will be carried out through the creation of a new company to which La Liga will transfer all its businesses, subsidiaries and joint ventures and in which CVC will hold a minority participation of 10%," announced the Spanish League on 04/08/2021. This agreement entitled "LaLiga Impulso" ("Boost LaLiga" in English), was unanimously approved by LaLiga's executive committee (on which neither Real Madrid nor Barça are represented) and must still be ratified by the clubs' extraordinary general assembly next week. Athletic Club Bilbao will also oppose it, according to Spanish media.

"This agreement, by way of a misleading structure, expropriates 10.95% of the clubs' audiovisual rights for the next 50…