The Spanish League agreed to grant the private equity fund “CVC” 11 percent of the TV broadcasting rights for the next 50 years, in exchange for 2.7 billion euros provided by the fund.
This agreement met with great opposition from a number of major Spanish clubs, led by Real Madrid and Barcelona, who on Friday proposed an alternative plan for the League.
An alternative proposal from the two largest clubs in Spain, along with Athletic Bilbao, is to obtain a 2 billion euro loan from JP Morgan, Bank of America and HSBC, to be paid in installments, in exchange for preserving broadcasting rights. Complete TV show.
The new “CVC” deal is due to receive final approval on December 10, and has been approved by 38 of the 42 clubs in the first and second divisions of La Liga.
The majority of the money from the deal will be given to clubs to spend on new infrastructure and modernization projects, as well as increasing the amount they can spend on signing players.
Clubs Real Madrid, Barcelona and Athletic Bilbao withdrew from the deal, saying the terms were too generous for CVC.
In response to their alternative proposal, LaLiga management said the CVC deal was not only about financing the league but also aimed at making it more competitive and improving economic matters.
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