A LaLiga, the organization that organizes the Spanish Championship, ratified this Friday, with the support of 37 of the 42 clubs that make up the organization, the agreement with the investment fund CVC Capital Partners for the transfer of part of its rights in exchange for a financial injection in clubs.
“The Extraordinary General Assembly held today at LaLiga ratified the LaLiga Impulso project, the strategic agreement reached with the CVC investment fund, with a majority greater than the required majority, to promote the global growth of LaLiga and its clubs,” said the president of the entity, Javier Tebas in a statement.
In total, four clubs were against the initiative (Real Madrid, Barcelona, Athletic Club and another team) and one abstention.
LaLiga defended its decision to “incorporate an industrial partner with extensive experience in Spain and in the sports field that contributes long-term capital (…) to help LaLiga and its clubs grow globally at a time of great challenges and uncertainties “.
The entity that brings together the 20 clubs from the first division and 22 from the second said that what was approved this Friday “guarantees the absence of impact among non-participating clubs”. Thus, these four clubs will not receive any of the approximately 2 billion euros ($2.260 billion) that will be distributed, but in return they will retain their full independence of decisions and budgets.
“We are proud to have reached this agreement with CVC, a project that will allow us to continue the transformation into a global digital entertainment company”, congratulated Tebas at the end of the meeting.
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