Spain: "The agreement between LaLiga and the CVC fund is historic, but shameful" (L. Rubiales, RFEF)

"It is a historic agreement, but it is a shameful one," said Luis Rubiales, president of the Royal Spanish Football Federation (RFEF), in a meeting with all LaLiga Santander clubs on 17/08/2021, regarding the "LaLiga Impulso" contract signed between the Spanish professional league and the Luxembourg-based investment fund CVC Capital Partners on 04/08/2021.

This agreement provides for the injection of €2.7bn by the investment fund, in exchange for a 10% return on LaLiga's revenues, as well as a minority stake of approximately 10% of the capital of a new company created to manage LaLiga's commercial activities, including centralised TV rights.

"We are dealing with the biggest case of decapitalisation of clubs in the history of Spanish football. If a deal is approved by a majority, that's fine, but it doesn't make it legal," said Luis Rubiales, stressing that he does not yet see this agreement as "legally binding".

The general assembly of LaLiga approved the "LaLiga Impulso" project with the support of 38 of its 42 member clubs (20 in LaLiga Santander and 22 in LaLiga SmartBank) on…