Real, Barca offer alternate economic deal


La Liga-CVC deal: After opting out, Real Madrid, Barcelona, Athletic Bilbao & Real Oviedo offer alternate economic package to counter CVC
La Liga-CVC deal: After opting out, Real Madrid, Barcelona, Athletic Bilbao & Real Oviedo offer alternate economic package to counter CVC

La Liga-CVC deal: Real & Barca offer alternative – Real Madrid and Barcelona along with two other clubs have proposed a 2 billion euro ($2.26 billion) bank credit to finance the La Liga as opposed to the approved cash injection offered by private equity fund CVC. Follow La Liga and Football updates Live on InsideSport.IN

The CVC deal entails a one-off payment of 2.7 billion euros to the league and in exchange, CVC will be receiving 11% of the league’s television rights over the next 50 years.

La Liga-CVC deal: Real Madrid, Barcelona, Athletic Bilbao & Real Oviedo offer alternate economic package to CVC deal

Also Read: La Liga: Barcelona, Real Madrid, and Athletic Bilbao challenge La Liga CVC deal

La Liga giants Real Madrid, Barcelona along with Athletic Bilbao and Segunda division side Real Oviedo opted out, saying the terms were too generous to CVC.

Their alternative proposal includes JPMorgan, Bank of America and HSBC jointly lending 2 billion euros in exchange for a fixed annual payment of 115 million euros for 25 years.

La Liga’s management hit out at the two giants and added that the CVC deal was not just about financing the league but also aimed at making it more competitive and improving its businesses.

“The CVC deal is an operation of investment in an industrial partner, not a bank credit, and (Real Madrid president) Florentino Perez knows that,” La Liga president Javier Tebas wrote on social media.

La Liga-CVC deal: Real Madrid, Barcelona, Athletic Bilbao & Real Oviedo offer alternate economic package to CVC deal

On the eve of the new Spanish season, the value of La Liga’s deal with private equity firm CVC dropped from €2.7 billion to €2.1 billion after four clubs voted against and opted out.

La Liga president Javier Tebas had earlier already targetted Real Madrid and Barcelona, stating that they were more interested in the formation of the Super League.

“It’s clearly because they (Barcelona and Real Madrid) are in favour of a European Super League. They are not interested in a league that is powerful and strong.”

La Liga-CVC deal: Real Madrid, Barcelona, Athletic Bilbao & Real Oviedo offer alternate economic package to CVC deal





Source link