Athletico Bilbao, Barcelona and Real Madrid have decided to take legal action against LaLiga, its president, Javier Tebas and the private equity fund CVC following a strategic agreement signed between the parties last Sunday (December 12).
The agreement set in motion Boost LaLiga (“LaLiga Impulso”), a project to boost the global growth of LaLiga and its clubs. It saw LaLiga valued with LaLiga valued at a historic €24.25 billion by leading independent experts Rothschild & Co and Duff & Phelps, will result in the league and clubs receive a total of €1.994 billion which will be used for technology, innovation, internationalisation, and sporting growth initiatives.
In a joint statement, the clubs said: “Athletic Club, FC Barcelona and Real Madrid report that they have taken legal action in response to the agreements adopted by the La Liga Assembly in relation to the so-called Impulse Project that LaLiga intends to undertake with the CVC venture capital fund, as it is an illegal transaction that causes irreparable damage to the Spanish football sector as a whole and flagrantly violates the most elementary principles of Spanish sports law and the LaLiga statutes”.
