Barcelona, Real Madrid want to prevent other Spanish clubs’ growth

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La Liga said Barcelona, ​​Real Madrid and Athletic Bilbao want to prevent the growth of other Spanish clubs after they challenged the league’s agreement with CVC Capital Partners.

La Liga agreed to sell 10% of its business to investment fund CVC in August. The deal was unanimously approved by LaLiga’s executive committee, with 38 of the 42 teams in the two major divisions subsequently ratifying the agreement.

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Barcelona, ​​Madrid and Athletic, along with second-division side Real Oviedo, were the four clubs to vote against, bringing CVC’s expenditures down from €2.7 billion to €2.1 billion. The money will now be shared by the other 38 clubs – and now Oviedo too, having later come out to support the deal. The three clubs that rejected the deal were allowed to withdraw.

“It’s surprising that they’re challenging something that doesn’t actually affect them,” a spokesperson for the association told ESPN. “They will only benefit from the growth of LaLiga in the coming years.

“LaLiga now has the support of 39 of the 42 clubs that make up the league. We will continue to work with CVC on this project, and we are confident that it is good for LaLiga and the clubs.

I declare the challenge [on Friday] He explains that these three clubs are trying to prevent the growth of other clubs in the league.

“Madrid has always challenged LaLiga’s efforts to develop the league and has a history of challenging the league in court. We, as LaLiga, will always continue to defend the interests of the majority of clubs.”

Barcelona, ​​Madrid and Athletic had earlier issued a joint statement confirming that they would fight the CVC deal.

The statement read: “FC Barcelona, ​​Athletic and Real Madrid announced that they have challenged the agreement adopted by the LaLiga Assembly on August 12, relating to the process between La Liga and the CVC, because it is an agreement that violates the rules in force. Established (and in particular, among other things, Royal Decree Law 5/2015), and was adopted as part of a very erratic and disrespectful process towards the minimum guarantees required for those purposes, particularly in the face of a process of such importance and longevity.”

The money collected from the sale will be distributed among the clubs in the form of a loan, which is repaid over a large number of years. The payments are based on the contributions the clubs have received since the centralization of audiovisual rights in 2015.

Clubs must spend at least 70% of the money on investments related to long-term growth and 15% on refinancing their debt, while 15% can be used to increase spending limits imposed by leagues.

Meanwhile, CVC is due 10% of the league’s revenue over the next 50 years, including money raised from TV rights. However, they will now not be entitled to any of Barcelona’s, Madrid’s or Athletic’s profits.

Barcelona president Joan Laporta criticized the deal, saying it would have cost the club more in the long run than it would in the short term. Signing the agreement was the only way to keep Lionel Messi at the club, but Laporta said it would not jeopardize the club’s future.

But LaLiga president Javier Tebas said Laporta initially supported the deal but withdrew when Madrid rejected it. Speaking last week, Tebas said Real Madrid had control of Barcelona, ​​noting that President Florentino Perez had “kidnapped” them and affected their decisions.

The two clubs, along with Juventus, are the only remaining members of the European Premier League project, which has been repeatedly criticized by Tebas.

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