The Court of First Instance number 47 of Madrid upholds “in its entirety the lawsuit filed” by Real Madrid CF, FC Barcelona and Athletic Club de Bilbao that questioned in January 2022 the operation that LaLiga signed with CVC and that they described as ” misappropriation or expropriationâ€.
According to the sentence “the rules of the call were violated and a large-scale, seasonal and economic operation was submitted to vocation, without providing all the necessary data to understand and assess its scope.” However, the ruling does not invalidate the agreement between LaLiga and CVC that was definitively voted on December 10, 2021 after a first assembly held in August of the same year.
The entities took legal action after the extraordinary assembly of LaLiga on December 10, in which the LaLiga Impulso project was approved after the vote in favor of 37 clubs out of 42. Through this project, the CVC fund will contribute 1,994 million euros to change of 8.4% of the rights of the teams during the next fifty years. The agreement values ​​the competition at 24,250 million euros.
After knowing the resolution of the sentence, LaLiga issued a statement in which it ensures that the ruling “does not affect the validity and maintenance of the LaLiga Impulso Project with CVC” and only assesses “whether or not there was a formal defect in the conditions of the call of the Assembly in which it was approved in August 2021 â€.
The employers’ association chaired by Javier Tebas announced that it will file the corresponding appeal before the Provincial Court since, according to the body, “the content of the sentence, with which LaLiga disagrees, affects merely formal issues that have already been corrected in the subsequent agreement of December 10 “of 2021, when the Extraordinary General Assembly of LaLiga definitively approved the agreement” with the support of 37 of the 42 clubs that make it up, four votes against and one abstention.
According to the body, “the content of the sentence, with which LaLiga disagrees, affects merely formal issues that have already been corrected in the subsequent agreement of December 10” of 2021, when the Extraordinary General Assembly of LaLiga definitively approved the agreement with the British investment fund CVC for 1,994 million euros, in exchange for the value of 9% of the audiovisual rights for 50 years, with the support of 37 of the 42 clubs that form it, four votes against and one abstention .
With the economic amount contributed by the CVC investment fund, the clubs promised to allocate up to 70% to invest in infrastructure, international, brand and product development, communication strategy, innovation plans, technology and content development on digital platforms. and social networks. Another 15 percent goes to the registration of players and the other 15 remaining to settle financial debt.
