The original deal offered by CVC to La Liga was to sign away 10% of the profits for 50 years, for all the teams, in exchange for a huge profit upfront. But it was rejected by Real Madrid, Barcelona and Athletic Club.
A week ago, the La Liga CVC deal was revived with renewed terms, and this time the clubs agreed to take it. Segunda division clubs were also part of the decision, with all clubs apart from UD Ibiza taking the deal.
Real Madrid, Barcelona and Athletic Club have now taken legal action against La Liga for the CVC deal.
Real Madrid’s official statement read: “Athletic Club, FC Barcelona and Real Madrid C. F. hereby inform that legal action has been taken against the agreements adopted by the La Liga Assembly on 10 December, which approved the so-called Proyecto Impulso that La Liga intends to engage in with the private equity fund CVC, on the grounds that this is an illegal transaction which causes irreparable damage to the entire Spanish football industry and which flagrantly violates the most elementary principles of Spanish sports law and La Liga’s own statutes.”