Real Madrid, Barcelona and Athletic Bilbao wrote to a colleague LaLiga clubs propose a €2 billion investment plan, which they say is a superior alternative to the league’s own agreement with CVC Capital Partners.
CVC deal – with the support of 39 other clubs in Spain’s first and second divisions – originally approved in August despite objections from Madrid, Barca and Athletic, with the final vote taking place on 10 December.
The new proposal will involve JP Morgan, Bank of America and HSBC together lending clubs 2 billion euros at a cost of between 2.5 and 3% interest over 25 years.
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That compares with the 50-year term for LaLiga’s CVC deal, under which the investment fund will receive 11% of the league’s income from television rights.
Madrid and Barcelona have criticized the CVC deal.
In a speech to club members last month, Madrid president Florentino Perez called it “a transaction that makes no financial sense for the club, but is good for CVC and others involved. concerns” and offered to help find an alternative.
“Can you imagine if [former club president] The Santiago Bernabeu decided to conduct a similar operation in 1975, which is still active today? It seems ridiculous,” he said.
Speaking in August, Barca president Joan Laporta said this deal “will not be in Barca’s best interests” and “too risky” even if it could help the club keep Lionel Messi.
LaLiga responded to a new proposal from the three clubs on Thursday night, saying the move “is intended to derail a project that puts their personal goals in jeopardy.”
“The activity presented in this letter is based on an impromptu proposal, formulated with no strict minimum requirements,” a union statement said.
LaLiga believes that the partnership with CVC is not simply a financial operation, but “a strategic project aimed at ensuring growth in the medium and long term.”
The CVC deal scandal is the latest clash in the fracturing relationship between Madrid and LaLiga, which has worsened even further since the attempt to launch the Super League in April.
LaLiga said on Thursday: “It is surprising that the promoters of the Super League, which can be deadly for national leagues, expressed concern about a project that the majority of clubs LaLiga has passed and will not affect them financially.
Three clubs were left out of the CVC deal in August, when last-minute changes were made to the pre-voting plan to ensure they wouldn’t receive the money and had no impact on earnings. from their television rights.
