Real Madrid SLAM La Liga for 'unprecedented' sale to CVC
Paul Macdonald
- 5 Aug 2021 20:01 BST
- 3 min read
Real Madrid have unleashed a vicious response to La Liga in respect of their recent announcement of a deal with CVC Capital Partners, calling the team 'unprecedented' and 'opportunistic'.
La Liga had earlier this week announced the sale of 10% of the division to the capital investment group in a deal through to be worth around €2.7 Billion.
The agreement was seen as a way for La Liga clubs to offset the grievous financial losses which stemmed from the coronavirus pandemic and which led Barcelona, Real Madrid and Atletico down the path of exploring the option of a Super League.
But this latest development is seen as way to tie Spain's three biggest clubs to the competition in the medium-to-long term future.
And Real Madrid have issued a statement via their website which explains, in no uncertain terms, that the club are not interested in the introduction of external investment for a number of reasons.
READ MORE: Is La Liga's cash injection bad news for Barcelona?
Real Madrid cannot support a venture which hands the future of 42 Primera and Segunda División clubs over to a group of investors
- Real MadridTheir statement reads: "In light of the announcement of the agreement between LaLiga and CVC Capital Partners, Real Madrid states the following:
- This agreement was reached without the involvement or knowledge of Real Madrid and today, for the first time, LaLiga has given us limited access to the terms of the agreement.
- The clubs have signed over their audiovisual rights exclusively for their sale on a competitive basis for a period of three years. This agreement, by way of a misleading structure, expropriates 10.95% of the clubs' audiovisual rights for the next 50 years, in breach of the law.
- The negotiation was carried out without competitive proceedings and the financial conditions agreed with CVC Capital Partners give them annual returns of over 20%. This opportunistic fund is the same which tried and failed to reach similar agreements with the Italian and German leagues.
- Real Madrid cannot support a venture which hands the future of 42 Primera and Segunda División clubs over to a group of investors, not to mention the futures of those clubs who qualify over the next 50 years.
- Real Madrid will convene the Assembly of Representative Members to debate the agreement and discuss the significant loss of equity, unprecedented in our 119-year history."
It is the type of statement which leaves in no doubt how Madrid position themselves with Spain.
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At the same time, Barcelona also waged war with the league over the registration of Lionel Messi, and in a statement claimed that both club and player 'dearly wished' to reach an accord, but were unable to due to league regulations.
It's not a night to be La Liga president Javier Tebas, who will have some explaining to do to the media in the hours and days ahead.
