After failing to convince Italy’s Serie A of its plans for the soccer league’s commercial rights, CVC is taking its sales pitch to Spain. Its proposals to La Liga have a better chance of finding the back of the net, writes LJucca
Private equity fund CVC Capital Partners is set to pay 2.7 billion euros to La Liga to fund its growth under a deal agreed in principle, the Spanish top soccer league said in a statement on Aug. 4.
Under the proposed terms, CVC will own 10% of a new company to which La Liga will contribute all its businesses, subsidiaries and joint ventures. The deal values La Liga at 24.3 billion euros. Revenue from La Liga’s existing annual rights is estimated at 2 billion euros, compared with 3.6 billion euros for the English Premier League.
Top Spanish club Real Madrid is opposed to the CVC deal, the Financial Times reported on Aug. 4, citing two unnamed sources.Barcelona’s Antoine Griezmann celebrates scoring against Athletic Bilbao in Seville, Spain, January 17, 2021.
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