Spain: Athletic Bilbao, Barça and Real Madrid challenge the CVC/LaLiga agreement in court

"Athletic Club Bilbao, FC Barcelona and Real Madrid CF have challenged (in court) the agreement made by the LaLiga general assembly on 12/08/2021 regarding the deal between LaLiga and CVC (Luxembourg-based investment firm), believing that it violates the terms set forth in the applicable regulations (and in particular, the Royal Decree-Law 5/2015), and that the decision was adopted within the framework of an irregular procedure which did not respect the minimum guarantees required, especially in a transaction of such importance and duration," announced the three LaLiga Santander clubs in a joint statement published on 17/09/2021.

The clubs thus confirmed their opposition to the agreement entitled LaLiga Impulso, concluded between the Spanish League and CVC Capital Partners, which 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. The general assembly of LaLiga…