Liga-CVC agreement, Real Madrid is not there: Florentino Pérez wants the American JP Morgan
The counter-offensive of the real Madrid to oppose the agreement between the Spanish Liga And CVC Capital Partners. The president of the Blancos, Florentino Pérez, finalized an offer financed by the US investment bank JP Morgan to replace the agreement between the Liga and the Luxembourg investment fund.
The president of the real Madrid – he revealed El Confidencial – wants to prevent the other Spanish clubs from signing the agreement on 10 December, the day after the delegated commission of the LFP approved the agreement with the fund, which will pay resources for approximately 2 billion euros to the companies.
Florentino Pérez believes his proposal offers better profitability for the 42 clubs that make up the First and Second Division of LaLiga. But what’s the hottest point of the new deal? The period in which the investor will keep the TV rights proceeds is reduced to 25 years, halving the 50 years part of the first agreement with CVC.Another point not to be forgotten is the economic evaluation of the Liga, that the CVC investment fund maintains at 24 billion euros, while JP Morgan raises the bar to 30 billion in the event of an agreement. However, the exact contribution that the American financial institution will make has not yet been disclosed.
The opposition of the real Madrid to agreement with CVC is based on the fact that the agreement gives access to the fund to the club’s assets, engaging 11% of the new advertising and television contracts. In addition to considering it illegitimate, the Real argues that for this arrangement he should consult with club members.
The US bank JP Morgan, which aims to become the protagonist in Liga, became a regular financier of the president of the real Madrid after taking charge, along with Bank America, of the 800 million euro investment for the new one Santiago Bernabéu. Furthermore, the company was involved – always with the role of financier – in the realization of the project for the European superalloy, led among other things by the Blancos club.
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