IN REAL TROUBLE: Real Madrid open case against La Liga
PA: Isabel Infantes
Real Madrid have initiated criminal and civil proceedings against LaLiga president Javier Tebas over the competition’s new deal with private equity firm CVC.
LaLiga announced last week it has reached agreement to sell a 10 per cent stake in the league to the Luxembourg-based firm for £2.3billion.
The deal would ensure a cash windfall for clubs, many of whom have suffered significant losses during the coronavirus pandemic.
Spain’s two biggest clubs, Real and Barcelona, are however unhappy about the value of the proposed “long-term” deal and have complained about a lack of consultation.
It has also been reported that, to access funds from it, Real and Barca would need to formally renounce interest in the breakaway European Super League, something they have not yet done despite the collapse of the controversial project earlier this year.
A statement from Real read: “At its meeting today, the Real Madrid board of directors unanimously agreed to initiate both civil and criminal legal action against the LaLiga president, Mr Javier Tebas Medrano, Mr Javier de Jaime Guijarro, head of the CVC Fund, and against the CVC Capital Partners SICAV-FIS Fund itself.
“In addition, the board of directors has resolved to take any legal action it considers appropriate to annul and render ineffective any possible resolutions adopted by the LaLiga Assembly, due to be held on August 12, 2021, in relation to the agreement between LaLiga and the CVC Fund.”
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