In a statement, Real Madrid have confirmed that they are set to take civil and criminal legal action against both the La Liga and the CVS over the €2.7 billion deal. The league’s executive committee confirmed and approved the deal last week but it has been rejected by both Barcelona and Real Madrid.
With the coronavirus pandemic hitting football hard, especially on a financial level, it has seen many sides take action with the Super League playing its part. However, with the financial effects of the pandemic still being felt, it has seen the La Liga approve a deal with CVC that sells 10% of their business for €2.7 billion to the investment fund. The fund will pocket 11% earned by the league, through TV rights and sponsorship, for the next 40 years but it has come under criticism.
While the money will be distributed to the clubs across the league in the form of a loan, it has seen both Barcelona and Real Madrid reject the deal. Furthermore, while the sale was unanimously approved by the La Liga’s executive committee, it still has to be confirmed and approved by the 42 voting clubs in Spain. But in a statement, Real Madrid have revealed that they are set to take both civil and criminal legal action against both the La Liga and CVC for the deal.
“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,” reads the statement on the club’s website.
“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.”