Tebas takes ahead the covenant with CVC in the middle of the war with Madrid and Barcelona

Javier Tebas takes ahead the first of his two Match Ball 'before Christmas: the approval of the agreement with the CVC investment fund against the negative of

Tebas takes ahead the covenant with CVC in the middle of the war with Madrid and Barcelona

Javier Tebas takes ahead the first of his two Match Ball 'before Christmas: the approval of the agreement with the CVC investment fund against the negative of the two greats of the League, Real Madrid and Barcelona, plus the Athletic de Bilbao, They decided to disconnect from the covenant, and the Spanish Football Federation itself. The second will face it next Monday, when the rights of the league should be awarded. The Assembly of the Club Board pronounced morely, with 37 votes in favor by four against and one abstention. To the three clubs that had been against publicly, one more added, the Ibiza, according to sources close to the entity, as well as another that decided not to be positioned in a secret vote.

Thanks to the agreement, the adhered clubs, with the exception of the three who decided to disconnect, will receive 1,994 million euros to undertake projects of sports and business growth, generally related to digitization, infrastructures and internationalization. The beneficiaries undertake to allocate 70% for these purposes and 15% to amortization of financial debt. The first injection of the project, known as League Impulso, will be 400 million and will reach the recipients in the coming weeks, according to the League.

The figure, initially of 2,700 million, waned upon withdrawing the three mentioned clubs, none of which are apronental corporations. However, the league insists that there will be no negative impact for those who have decided not to avail themselves. Madrid, Barcelona and Athletic presented an alternative financing project that was rejected by thebes. The intention of these is to resort the agreement before the courts, by understanding that it harms the interests of the clubs, which give CVC 9% of their audiovisual rights over the next 50 years. Being obliged to a centralized negotiation by the Royal Decree, the maneuvering margin of the non-involved is scarce.

"Despite all obstacles, we have taken a project that will mean a before and after for the clubs in the League," said Tebas at the Assembly. This will not imply, however, peace in the sector. The Federation of Luis Rubiales seconded the not the three clubs not adhered to the agreement and said the contract with CVC violated the Spanish legal system, so it also provides legal action. The Federation tried that the Superior Council of Sports (CSD) will be positioned against, without getting it.

Date Of Update: 10 December 2021, 09:13

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