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Soccer-Barca join Real in rejecting La Liga's proposed CVC investment

Soccer-Barca join Real in rejecting La Liga's proposed CVC investment

Soccer Football - FC Barcelona announce Lionel Messi will leave the club - Camp Nou, Barcelona, Spain - August 5, 2021 A woman is seen outside FC Barcelona's offices after FC Barcelona announced Lionel Messi will leave the club REUTERS/Albert Gea

MADRID : Barcelona joined rivals Real Madrid https://www.reuters.com/article/idUSL1N2PC22F?edition-redirect=ca on Thursday in denouncing a proposed multi-billion-dollar investment and revenue-sharing deal between Spain's top soccer league, La Liga, and private equity firm CVC.

The statement came in the aftermath of the club announcing all-time top scorer Lionel Messi would leave the Camp Nou after 18 years due to financial constraints put on them by La Liga. [L1N2PC2AX]

The Spanish football league on Wednesday https://www.reuters.com/lifestyle/sports/spains-la-liga-agrees-sell-10-stake-cvc-nyt-2021-08-04 announced that CVC would inject 2.7 billion euros (US$3.2 billion) into La Liga in exchange for 10per cent of its revenue and a 10per cent stake in most of its business, with 90per cent of the injection going to clubs.

"FC Barcelona considers that the operation that has been announced has not been sufficiently discussed with the clubs (the owners of the TV rights); that the amount is not congruent with the years of duration, and the deal affects part of all clubs' audiovisual rights for the next 50 years," a club statement read.

"The terms of the contract that La Liga is describing condemn Barcelona’s future with regard to broadcasting rights.

"FC Barcelona wishes to express its surprise at an agreement driven by LaLiga in which the teams’ opinions, including those of FC Barcelona, have not been taken into account.

"There has not even been a presentation of options offered by other competitors in order to evaluate the pros and cons in a post-pandemic situation in which there are still many questions that are left unanswered."

Barca, along with Real and Juventus of Italy, remain wedded to the ill-fated European Super League idea that was announced earlier this year, but collapsed after fan backlash as nine of the 12 founder clubs pulled out.

The Spanish football league's Executive Committee, which includes the bosses of Atletico Madrid and Sevilla but not those of Real or Barca, approved the planned CVC deal on Wednesday and it will now be put to a vote by all league members from the top two divisions.

(Reporting by Joseph Walker; Editing by Christian Radnedge)

Source: Reuters

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