After receiving criticism from the two biggest Spanish clubs, Barcelona and Real Madrid, the General Assembly of LaLiga approved the project entitled “LaLiga Impulso”, which results in the acquisition by the international investment fund CVC of 10% of the Spanish entity.
The deal was supported by 38 of the 42 member clubs. To be approved, the contract needed at least 32 favorable votes.
Although the league has clarified that sporting issues and the management of audiovisual rights will be left out, this last item in particular was highlighted by the main Spanish teams as having a negative impact on the future of the clubs, who declared that the transaction will impact the rights of the the next 50 years, although the terms of this association indicate a three-year term.
According to LaLiga, “it represents the biggest boost in the history of Spanish football”, as it involves an “ambitious investment plan that will allocate resources to clubs to improve the competition and experience of fans”, in order to make the championship the “best show” of the world in the medium term.
With this agreement, LaLiga moves from a single product model, based on games and selling audiovisual rights, to a broader operating model, based on technology and digital and analytical capabilities. In terms of CVC’s investment, 90% will go to clubs including women’s, semi-professional and amateur football from the Royal Spanish Football Federation and the Superior Council for Sports.
President of LaLiga defends the approved proposal
Javier Tebas, the current president of LaLiga, said: “We are convinced that the LaLiga Impulso project is the answer to the challenges we have to face in the medium and long term”.
Tebas added: “It is a strategic agreement that will provide our clubs with greater structuring capacity, will transform the management model and will allow us to have a much more attractive competition. It is the necessary impetus to transform LaLiga into a global digital entertainment company with the most attractive football competition in the world.”