BARCELONA – LaLiga announced this Wednesday a “principle of agreement” with the CVC investment fund that will automatically report an injection of 3,200 million dollars that will serve to give oxygen to Spanish clubs, several of them drowned by the effects of the coronavirus pandemic, and will allow both to refinance their debt and to extend the salary limits of the workforce.
CVC Capital Partners is a British investment fund that in 2018 acquired 20% of the Gas Natural company, has offices spread across Europe, America and Asia and over the last 25 years has developed business in top-level international competitions such as Formula One , Moto GP, tennis or rugby. The agreement with the investment fund starts with the forecast that LaLiga’s exponential growth will allow it to reach the Premier League level within four years.
Three months after the professional football association signed a historic contract with ESPN by which the Spanish competition, one of the most important in the world, will be followed in the United States through ESPN + for the next eight years, the organization chaired by Javier Tebas gave a new blow to strengthen its position in the global entertainment industry through a major boost for all its associated clubs.
Presented by the employers as a “strategic agreement” by which CVC will own a 10 percent stake in a new company in which LaLiga will maintain the majority in a long-term agreement, the clubs will obtain that financial injection from which they will divide the received between adapting its own infrastructures, most of it, refinancing its debt and expanding the salary limit, in this case, the most pressing, by approximately 15 percent of what it received.
This means, broadly speaking, that taking into account the income obtained from television during the last seven seasons, which is also distributed according to sporting results, Barcelona will receive about 320 million dollars for 308 million from Real Madrid or close to 237 Atlético de Madrid, amounts that are considered essential in their immediate sporting and economic plans.