Spain: agreement signed between CVC and LaLiga whose clubs will receive €1.994bn

LaLiga and CVC (a Luxembourg-based investment firm) have signed the agreement that launches LaLiga Impulso, "a strategic project to boost the global growth of LaLiga and its clubs," announced the Spanish League on 12/12/2021.

Supported by 38 of the 42 Spanish first and second division clubs (20 in LaLiga Santander and 22 in LaLiga SmartBank) at the body's general assembly on 12/08/2021, LaLiga Impulso was approved by 37 clubs at the GA on 10/12/2021. Athletic Club Bilbao, FC Barcelona, Real Madrid CF (LaLiga Santander) and UD Ibiza (LaLiga SmartBank) voted against, while Real Oviedo (LaLiga SmartBank) abstained (see "further reading" section).

"The agreement between LaLiga and CVC will see the league and clubs receive a total of €1.994bn which will be used for technology, innovation, internationalisation, and sporting growth initiatives," said LaLiga, valued at €24.25bn under the deal.

"The injection of nearly €2bn commits participating clubs to allocating up to 70% of the funds to investments linked to infrastructure, international development, brand and product development, talent…