Liga-CVC Agreement Real Madrid and Barça oppose the LaLiga agreement;
whites will denounce
Liga-CVC Agreement Who is the new investor in Spanish football and what will the clubs do with the money
The
agreement that LaLiga has reached with the CVC investment fund
, whereby the clubs receive an economic injection of 2,700 million euros, suffered a major setback on Thursday, and the situation has unexpectedly become tense. Both Real Madrid and Barcelona showed their opposition to what was announced, and according to sources close to LaLiga, this has generated a concern: "In the Assembly, Tebas has won, because the rest of the clubs will vote in favor, but now the The danger is that the Americans are scared by the noise and back down, "an executive from one of the clubs involved explained to EL MUNDO in the afternoon.
What noise are you referring to? Well, the one who did the two greats of Spanish football, who started their loudspeakers to proclaim that the agreement, received with joy by most of the clubs, they are not interested. Why are they not interested? Contrary to what might seem due to the immediate economic injection it has, Madrid and Barça do not support the maneuver of the body chaired by Javier Tebas because they consider that, in the medium and long term, both clubs will lose money.
And why will they lose money? Before, an underline: the money reaches the clubs in the form of a participative loan, at 0% interest and with a term of 40 years. And there is the key.
Those 40 years suppose, Madrid and Barcelona understand, a too long mortgage
. It is convenient to insist on the strikingness of Barça's position. "If it is good news, it is for Tebas. Not for Barça", sources from the Barça club tell this newspaper, adding: "There is talk of a transfer of party rights for 40 years. There are almost no mortgages that pass 25 or 30 years ... When you make a transfer of rights of this type, the normal thing would be for it to be 10 years at the most. It is outrageous. "
"Barcelona does not have a favorable position to this agreement. On the contrary," they make clear in the Camp Nou offices, where they emphasize that Tebas negotiated the pact with CVC behind their backs. "They have not consulted us. They have thrown themselves into the pool and speculate with rights that belong to each club. Another thing would be if a negotiation had been mediated to evaluate it." Trying to find answers, from Barcelona they understand that the agreement with CVC responds to Tebas's intention to "deactivate Barça and Real Madrid from the Super League."
They are more forceful in Madrid, where they explain to EL MUNDO their surprise: "We have found out from the media, despite the fact that he plays with our own rights. They have cooked it from LaLiga without counting on us, and there are clear indications that it is about of an illegal operation. " Therefore, Madrid confirms that in the next few days it will go to court to stop the operation.
Another of the most important clubs in LaLiga, however, considers the agreement positive. One of its directors explains in detail why Madrid and Barça are suspicious. "Their doubts make sense because it is a long time. For them, and for Atlético, the income from television rights is less than 30% of the total. 10% of that 30%, which is what must be returned year after year to the investment fund, it is 2-3%. The challenge proposed by LaLiga is to supply that 2-3% per year with an increase in sponsorships, merchandising, through digital development ... ", explains one of its directors .
The key to this operation is that
LaLiga strengthens the business, ensuring that it grows in a context in which the Covid crisis has hit the clubs hard, but ties up their room for maneuver
. That is where the misgivings of some clubs arise. The resources can only be invested in the growth of the competition. Specifically, 70% in infrastructures, digitization and commercial expansion; 15% to clean up balance sheets after two years of general losses; and only 15%, in staff, to be distributed over three seasons.
With the agreement with CVC, LaLiga seeks to take a leap that allows it to position itself and compete with the Italian Serie A or the Bundesliga. The turnover of Spanish football is growing at a double-digit rate, although with a model based on the sale of television rights, a market that is contracting. "The future is no longer guaranteed by television, because it has reached its peak of exploitation," explains a former senior manager of several First Division clubs.
The 2,700 million euros that the British fund contributes will allow clubs to face this technological leap, modernizing their stadiums, or paying for them if they have been remodeled, and promoting experiential services that position the Spanish competition in international markets. "It is a huge challenge, a leap into the future that would have been unthinkable nine years ago. LaLiga's economic control over the clubs has been key to having a healthy and very profitable competition for these top investors," says the expert.
Integrating the fund as a business partner allows the football association to ensure that the improvement it intends in
marketing will not only be carried out by an external partner, but will fall on the competition itself
.
And the fund manages to ensure that its contribution reverts to preparing the business for the new commercial era of sport, and not to uncontrolled sports spending.
As long as the noise generated on Thursday doesn't change your mind.
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