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Real Madrid could take legal action against La Liga and CVC Investment fund. Madrid have taken this stance after La Liga decided to sell 10% of their business to the CVC Capitals for €2.7 billion, according to a report from ESPN.
According to the deal between La Liga and CVC Capitals, the investment fund will pocket 11% of the money raised through TV rights and sponsorships for the next 40 years, something Real Madrid are not happy about.
According to El Independiente, Real Madrid, along with rivals Barcelona and Athletic Bilbao, have raised concerns over this new investment deal made by the league.
In an official club statement, Real Madrid mentioned that this decision was taken without the prior knowledge of the club. Los Blancos are not happy to lend their club's future, along with the rest of the Spanish sides, to an outsider. This could force the club into taking legal action.
Real Madrid's statement reads as follows:
"This agreement was reached without the involvement or knowledge of Real Madrid and today, for the first time, LaLiga has given us limited access to the terms of the agreement.
"Real Madrid cannot support a venture which hands the future of 42 Primera and Segunda División clubs over to a group of investors, not to mention the futures of those clubs who qualify over the next 50 years.
"Real Madrid will convene the Assembly of Representative Members to debate the agreement and discuss the significant loss of equity, unprecedented in our 119-year history."
Real Madrid say the same investment fund failed in German and Italian leagues
In their statement, Real Madrid said the same fund had tried and failed in two of Europe's biggest leagues - Serie A and the Bundesliga. Los Blancos are not happy to share its wealth with CVC Capital Partners. The statement read:
"The negotiation was carried out without competitive proceedings and the financial conditions agreed with CVC Capital Partners give them annual returns of over 20%. This opportunistic fund is the same which tried and failed to reach similar agreements with the Italian and German leagues."
According to ESPN, Real Madrid believe that they have managed their finances quite well despite the global pandemic. Los Blancos also believe that this investment would benefit other clubs and would go against their interest.
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