The investment fund CVC Capital Partners has sealed an agreement with LaLiga to buy around 10% of its capital for 2.7 billion euros, the organizer of the Spanish football championship announced on Wednesday.
The agreement in principle between the two parties, which values LaLiga at more than 24 billion euros, aims to "strengthen the overall growth of LaLiga and its clubs by continuing its transformation into a global digital entertainment company".
Concretely, a new company will be created in which LaLiga, which brings together the clubs of the Spanish first and second division, will transfer all its activities.
CVC will hold “a minority stake of approximately 10%” in this new entity.
In Italy, a similar operation is underway but is currently facing opposition from some clubs.
Note: #LaLiga confirmed a principio de acuerdo con CVC para inyectar 2.700 million euros in the competición y los clubes.
- LaLiga (@LaLiga) August 4, 2021
A need for fresh money
This search for new money by two of the biggest European leagues comes as clubs have lost huge amounts of money due to the Covid-19 pandemic, which has forced them to close their stadiums.
In this context, twelve major European clubs, including Real Madrid, Atlético de Madrid and FC Barcelona in Spain, caused an earthquake on the football planet by announcing in April their Super League project, a quasi-closed league, in order to earn much higher income.
Most of these clubs changed their minds two days later, in the face of international outcry and support from supporters.
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