In light of the La Liga’s deal with investment fund CVC, the Spanish Football Federation (RFEF) has called the deal ‘completely illegal’ in a statement released by them earlier today. The league and the investment fund had come to an agreement to sell 10% of the La Liga’s business for €2.7 billion.
While the La Liga’s executive committee approved the league selling 10% of their business to investment firm CVC for €2.7 billion, the deal has yet to be ratified by the clubs. But ahead of Thursday’s vote to do just that, it has seen both Real Madrid and Barcelona reject and hit out at the deal, with the former even set to file civil and criminal action against the league. However, things are set to get even worse as the Spanish Football Federation (RFEF) has now released a statement about the deal.
In their statement, the RFEF has condemned the deal and called it “completely illegal” and “appalling” in a long statement released on their website. The statement also hit out at the La Liga and criticized them for trying to be “very opportunistic” by “trying to go beyond the borders of the law to reach a terrible and regrettable economic agreement for the future of all Spanish football”.
“The Royal Spanish Football Federation has had the opportunity to examine before tomorrow's Assembly and with a margin of only 48 hours the documentation provided - we do not know if in a complete way - by the LNFP that structures the operation intended by it and CVC,” reads the statement on the RFEF’s website.
“This operation, carried out with the absence of the slightest publicity and concurrence in the selection of the successful bidder, has two parts: the one related to the commercialization of audiovisual rights, on the one hand; and the rest of the LNFP businesses, which make up a heterogeneous group, on the other.”