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Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal - Sports - Nairaland

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Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Insidenaijasblo: 11:00am On Aug 06
Real Madrid are considering taking legal action against LaLiga and CVC Capital Partners after the Spanish league agreed to sell 10% of its business to the investment fund for €2.7 billion, without informing Real Madrid a major club in the league.

The money raised from the sale will be distributed among the clubs in the form of a loan, repayable over a significant number of years. The payments will be based on the contributions the clubs have had since the centralisation of audiovisual rights in 2015, with Madrid allocated around €261 million and Barca €270m.

The clubs must spend at least 70% of the money on investments related to long-term growth, 15% on refinancing their debt, and 15% can be used to increase their league-imposed spending limits.

LaLiga announced the landmark deal on Wednesday, and reports say even Barcelona had not yet agreed to the deal doubting if it can be voted through at the La Liga general assembly on Aug. 12.

The Spanish league's executive committee have already unanimously approved the 10% sale, but it must be ratified at the general assembly next week.

League sources said that despite the concerns some clubs have about the deal, they believe it will be voted through because only two-thirds of the 42 voting clubs in the top two tiers of Spanish football must be in favour.

Real Madrid, Barcelona and Athletic Bilbao are in opposition to the sale, El Independiente reported on Thursday.

According to El Independiente, Madrid were weighing up taking action for asset misappropriation.

The report said that Madrid feel the sale "endangers" their business opportunities by allowing CVC to take make money from, for example, television rights without the club agreeing to the deal.

For their initial investment, CVC will pocket 11% of the money raised by LaLiga through the sale of television rights and sponsorship for the next 40 years.

Madrid said in a statement on Thursday: "This agreement was reached without the involvement or knowledge of Real Madrid and today, for the first time, LaLiga has given us limited access to the terms of the agreement.

"The negotiation was carried out without competitive proceedings and the financial conditions agreed with CVC Capital Partners give them annual returns of over 20%. This opportunistic fund is the same which tried and failed to reach similar agreements with the Italian and German leagues.

"Real Madrid cannot support a venture which hands the future of 42 Primera and Segunda División clubs over to a group of investors, not to mention the futures of those clubs who qualify over the next 50 years.

"Real Madrid will convene the Assembly of Representative Members to debate the agreement and discuss the significant loss of equity, unprecedented in our 119-year history."

Barcelona said in a statement: "FC Barcelona considers that the operation that has been made public has not been sufficiently verified with the clubs [owners of the TV rights]; that its amount is not congruent with the years of duration and that part of the audiovisual rights of all the clubs are affected for the next 50 years.

"The Club considers the signing of a half-century contract inappropriate given the uncertainties that always surround the world of football.

"The conditions of the contract that LaLiga is talking about condemn the future of FC Barcelona in terms of audiovisual rights.

"FC Barcelona wants to show its surprise at an agreement promoted by Laliga in which it has not had the criteria of teams, like FC Barcelona itself, and does not even show options among more competitors to be able to evaluate the advantages and disadvantages in a scenario with many questions such as the post-pandemic."

https://newspremises.com.ng/real-madrid-consider-legal-action-against-laliga-over-e2-7bn-deal/

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Tony3245(m): 11:06am On Aug 06
Let's watch as it unfolds.

At least the court system works here




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4 Likes 2 Shares

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Aloof: 11:08am On Aug 06
As long as the only 3 Clubs (Madrid, Barca, and Bilbao) that have never gone to relegation in the history of la-liga are in opposition, it won't stand.

24 Likes

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by mbahdi(m): 11:09am On Aug 06
When money speak you have no choice. Dan to keep calm
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by YorubaKinging: 11:09am On Aug 06
The end is near

I'm warning all of you

The world you know is about to be dealt a huge blow

War is coming

USA is going down

Europe is rising up

The people of Israel will be made known to the world

Jesus will be king forever

23 Likes 2 Shares

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by jimmyolasun: 11:09am On Aug 06
We still dey mourn Messi departure

31 Likes 1 Share

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by RapistOnBail: 11:09am On Aug 06

I love money mhen!!!


Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Royalty7(m): 11:09am On Aug 06
Inu kwa

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by slawormiir: 11:09am On Aug 06
Damnnn niggarrrr
Isoright
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Nuelito: 11:10am On Aug 06
Wahala no dey finish
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by ArewaNightmare: 11:10am On Aug 06
grin make una take am easy dey mention this huge amount of money upandan pls the local man is traumatized

11 Likes

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by ceeceeco: 11:11am On Aug 06
La liga is losing its value gradually. EPL is the main focus.
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Ifabernard(m): 11:11am On Aug 06
Madrid sef grin grin grin
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Fahdiga(m): 11:12am On Aug 06
Currently the world football is in disarray
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by iamyemiakins(m): 11:12am On Aug 06
2.7 Billion Euros
10% péré shocked

3 Likes

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by TheZebra: 11:13am On Aug 06
Like for Chelsea, share for man United

17 Likes 20 Shares

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by mastercee(m): 11:13am On Aug 06
We just want to enjoy the game of football abeg

1 Like

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by BestGospelMusic: 11:13am On Aug 06
Money money money!


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Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by SchoolGate: 11:14am On Aug 06
My oil money cool
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by heniford2: 11:14am On Aug 06
grin grin grin super tori
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by EndBuhariNow(m): 11:14am On Aug 06
These fraudulent Spanish farmer clubs will not allow us in Northern London to enjoy our trophy in peace again... they should stop disturbing others with their fraudulent ojolo buying and selling of clueless players in their league
Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by DenreleDave(m): 11:14am On Aug 06
grin cheesy

6 Likes

Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Pelicanmedia: 11:15am On Aug 06
i believe in their court system

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Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by Turtleneck4Sale: 11:16am On Aug 06
Not related but I wish Messi plays for real Madrid

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Re: Real Madrid Consider Suing La Liga Over €2.7 Billion CVC Deal by fredoooooo: 11:16am On Aug 06
Spanish football about to go the italian way .. down down down

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