The Spanish Football Federation has deemed La Liga’s plans of signing a business deal with CVC Capital Partners as ‘completely illegal’ in an official statement released by them.
They criticised the parties for hashing out important paperwork in 48 hours and understood that the long-term deal would put the clubs at a huge disadvantage over the next half a century. They go on to point out that it is not only illegal but also economically destructive in nature. The clubs will earn a very small amount of money over the years and that income will be heavily taxed as well.
The conclusion of the statement released by the Spanish Football Federation clearly states their disapproval of the proposed deal:
“In short, analyzing the operation with a fifty-year perspective, which is the one provided by the LNFP and CVC, as well as its contents, we must conclude that it exceeds what could be understood by the commercialization of audiovisual rights to the that the powers of the League are limited, and may irreversibly affect the future of the competition.”
The Spanish Football Federation (RFEF) says it is totally opposed to La Liga's plan to sell a 10 per cent in the league for £2.3bn to private equity firm CVC Capital Partners.
— Sky Sports News (@SkySportsNews) August 11, 2021
“The RFEF, being aware of the various complaints and comments made by various First and Second Division clubs, has communicated its firm opposition to this agreement, through a burofax sent to the LNFP.”
Spanish giants Barcelona and Real Madrid are opposed to the deal, and have threatened to take legal action against La Liga president Javier Tebas for the deal that would see the clubs suffer for a huge period of time. But now, with the Spanish board making their stance known, it is likely that the business deal between La Liga and CVC will no longer go through.
