SportsBarca, Real, Athletic Club Present Alternative To CVC La Liga Funding

Barca, Real, Athletic Club Present Alternative To CVC La Liga Funding

December 04, (THEWILL) – A pair of top La Liga sides, Barcelona and Real Madrid, with the inclusion of Athletic Bilbao, have made their alternative to La Liga’s CVC Capital Partners arrangement public.

THEWILL recalls that in August, La Liga announced a €2.7 billion (£2.3 billion) deal with CVC in which the latter would own a 10% interest in the league. Barcelona, Real Madrid, and Athletic Bilbao instantly opposed this, yet despite their reluctance, La Liga clubs backed the proposition.

Real then announced that they would sue La Liga and its president, Javier Tebas, over the league’s interest in the funding.

On Thursday, reports surfaced that the three opponents of the initial arrangement had put together their own plan to offer much-needed financing to La Liga and its clubs, just a week before a vital vote of club presidents on whether or not to support the CVC arrangement.

On Friday, the three teams sent a letter to La Liga and the Spanish Sport Federation outlining their proposal, dubbed ‘Project Sustainable,’ which they described as a “sustainable, rational, and legal” alternative to the “terms equally ruinous for Spanish football” as contained in the CVC deal.

Project Sustainable, according to Barca, Real, and Athletic, would offer the same money to clubs as the CVC deal, but at “infinitely better costs and terms.”

According to the letter, their concept would be “15 times cheaper,” costing clubs only €900 million over 25 years, compared to a cost of €13.1 billion over 50 years with the CVC deal.

It goes on to say that “the direct ownership of the clubs over audiovisual rights is not violated” under Project Sustainable’s rules, and that no outside groups are permitted access to La Liga’s governance.

About the Author

Homepage | Recent Posts

Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.

Jude Obafemi, THEWILLhttps://thewillnews.com
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.

More like this
Related

Third Mainland Bridge To Fully Open In Seven Days – FG

March 29, (THEWILL) - The Federal Government, through...

Insurgency: NGO Trains 59 Traditional Rulers, Others On Inclusion Of Survivors, Deradicalised Women

March 29, (THEWILL)- A non-governmental organisation has trained...