Spain: Athletic Club, Barça and Real Madrid take legal action against the LaLiga/CVC agreement

"Athletic Club Bilbao, FC Barcelona and Real Madrid CF hereby inform that legal action has been taken against the agreements adopted by the LaLiga assembly on 10/12/2021, which approved the so-called Impulso Project that LaLiga intends to engage in with the private equity fund CVC (Luxembourg-based investment fund)," announced the three LaLiga Santander clubs in a joint statement published on 15/12/2021.

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, "a strategic project to boost the global growth of LaLiga and its clubs", 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).

LaLiga announced on 12/12/2021 that it had signed an agreement with the investment fund, through which "the league and clubs receive a total of €1.994bn which will be used for technology…