Real Madrid to sue La Liga over TV deal
Real Madrid take legal action
In a startling turn of events, Real Madrid have confirmed in an official statement that they will be taking legal action over the decision to sell a stake in La Liga to private equity firm CVC.
— Real Madrid C.F. (@realmadrid) August 10, 2021
Writing in typically brisk fashion, the statement said:
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.
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 LaLiga Assembly, to be held on August 12, 2021, regarding the agreement between LaLiga and the CVC Fund.
What is the CVC fund?
Last week, the Spanish La Liga board agreed to sell a 10% stake in the division to private equity firm CVC for a fee of 2.7 billion euros (2.3 billion pounds), of which 90% of the money would go to the clubs involved in the division.
However, while it was accepted by the La Liga board of delegates, it has since been rejected by both Barcelona and Real Madrid, with fears over the length of any potential deal.
Such were Barcelona’s objections, that when forced to choose between being allowed to register Lionel Messi and accepting the deal, or rejecting the deal and losing Messi, they opted for the latter.
I wish you Messi, and your family, all the best. The doors at Barça will always be open for you. Thank you for everything, Leo! pic.twitter.com/4TnxwgCe7R
— Joan Laporta Estruch🎗 (@JoanLaportaFCB) August 8, 2021
Real Madrid, meanwhile, have opted for legal action, which could seriously affect the deal.
Only time will tell how it turns out.