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Deal negotiated without consent
Spanish record champions Real Madrid is going to sue against LaLiga‘s deal with CVC Capital Partners. “The club’s board met at 11:00 on Tuesday morning and unanimously decided to take both civil and criminal legal action against the president of LaLiga, Mr. Javier Tebas, Mr. Javier de Jaime Guijarro of the CVC fund, and against the CVC Capital Partners,” Real Madrid’s statement said. The board also agreed to seek to terminate the deal that would see LaLiga sell 10% of its shares to CVC for €2.7 billion.
Real Madrid are the second club in financial distress to fight against the deal. Earlier, FC Barcelona, who lost superstar Lionel Messi to Paris Saint-Germain on a free transfer on Thursday, also announced that they would take legal measures against the deal. “The deal would hand over television rights for half a century,” Barça boss Joan Laporta said.
The 42 teams of the Spanish first and second division have to vote on the deal. Real stated that the deal was negotiated without their knowledge. As a result, the club wants to gain a court order prohibiting a vote on a contract with CVC. LaLiga has announced that it would need a simple majority for the contract to go through. Nonetheless, Tebas is willing to accept that in this case, three-quarters of the clubs would have to agree. The league is certain that 33 clubs would be in favor of signing the contract. The 14 delegate committee members, including representatives of Atlético Madrid, Real Betis, Sevilla, and Real Sociedad have already guaranteed their support for the project.
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Spanish media have reported that the clubs will share 90% of the money. The money is also supposed to support amateur and women’s football. Barcelona can expect around €260 million and Real Madrid €270 million.
Comunicado Oficial.#RealMadrid
— Real Madrid C.F. (@realmadrid) August 10, 2021
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