Real Madrid begin legal action against La Liga and CVC, Javier Tebas criticises Florentino Perez's 'threatening method'
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Updated 10/08/2021 at 14:21 GMT
Real Madrid announced on Tuesday that the club had begun legal proceedings against La Liga president Javier Tebas over the proposed deal with CVC partners. Real and rivals Barcelona both oppose the agreement, which would see €2.7 billion injected into Spanish football for a 10 per cent stake in the league.
MADRID, SPAIN - MAY 05: Logo of La Liga, the body that runs the regular Football competition, on top of its headquarters building in Madrid at Calle Torrelaguna, 60, closed during the Covid-19 pandemic, on May 05, 2020 in Madrid, Spain. (Photo by Joaquín
Image credit: Eurosport
Real Madrid have begun legal proceedings against La Liga president Javier Tebas over the proposed deal with private equity firm CVC Partners.
La Liga reached an agreement in principle with CVC partners last week for a deal that would see €2.7 billion injected into Spanish football and give the firm a 10 per cent stake in the league.
Both Real and rivals Barcelona are opposed to the deal, and the former have now taken the step to start legal action against La Liga, Tebas and CVC partners.
"The Board of Directors of Real Madrid CF, meeting today at 11:00 a.m., has unanimously agreed to carry out both civil and criminal legal actions against the president of LaLiga, Mr. Javier Tebas Medrano, against Mr. Javier de Jaime Guijarro responsible of the CVC Fund and against the CVC Capital Partners SICAV-FIS Fund itself," Real said in a statement.
"Likewise, the Board of Directors has also decided to carry out legal actions of all kinds that are deemed appropriate to annul and nullify the possible agreements adopted by the La Liga Assembly, to be held on August 12, 2021, regarding the agreement between La Liga and the CVC Fund."
Tebas responded to the statement on Twitter, as he said: "The threatening method that has been used for years by FP (Florentino Perez) in private is now being transferred to the public sector.
"Clubs and institutions have been enduring his threats for years. Since 2015, against the collectivised sale (of TV rights), the constant challenges of agreements, the Super League... Real Madrid deserves more."
As part of the proposed deal a new company would be formed to oversee La Liga's business activities, with CVC owning a 10 per cent stake of that company.
La Liga insists it will retain control of all sporting and competitive areas while using CVC's money and expertise to ensure that Spanish football is able to innovate and improve.
The potential investment from CVC has been earmarked for off-the-field infrastructure projects and business areas.
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