Spanish LaLiga football club OK CVC invests 2.1 billion euros

FILE PHOTO: Football – La Liga Santander – Atletico Madrid receive the La Liga trophy – Wanda Metropolitano, Madrid, Spain – May 23, 2021 Atletico Madrid’s Koke lifts the trophy as they celebrate after winning La Liga REUTERS / Susana Vera

December 10, 2021

By Fernando Kallas

MADRID (Reuters) – Spain’s top football clubs on Friday approved a 2.1 billion euro ($2.37 billion) investment from private equity fund CVC Capital Partners for eight A .2% stake in a new company that will manage broadcast revenue, a source close to LaLiga said.

The “LaLiga Boost” deal marks the first investment deal from a private equity firm in a major European Federation.

During a LaLiga General Assembly meeting, 37 clubs voted in favor of the deal, while Real Madrid, Barcelona, ​​Athletic Bilbao and Ibiza voted against and one club abstained, the source said. with Reuters.

At least 32 of the 42 teams from Spain’s first and second divisions need to support the deal to complete.

Goldman Sachs will contribute a portion of funds that CVC will invest in the Spanish football league and recover over 50 years, sources from LaLiga and the fund said.

A source close to Real Madrid told Reuters the club will start legal action against LaLiga as they threatened after declaring their objections in August.

(1 dollar = 0.8869 euros)

(Reporting by Fernando Kallas and Inti Landauro; Editing by Nathan Allen and Andrew Heavens)