The signing follows ratification with a large majority of Boost La Liga by the La Liga General Assembly with 37 of 42 clubs voting in favour.
According to a La Liga press release, the agreement between La Liga and CVC will see the league and clubs receive a total of €1.994 billion which will be used for technology, innovation, internationalisation, and sporting growth initiatives.
????Inversión #LaLigaImpulso con el fondo CVC para los clubes #LigaSmartBank pic.twitter.com/06ejUMV5bJ
— Isaac Fouto (@isaacfouto) December 10, 2021
The pioneering agreement between La Liga and CVC sets a precedent for other European leagues and the wider sports and entertainment industry, a sector full of passion, excitement, and dynamism, but in constant flux and in need of adapting to new growth opportunities.
La Liga aspires to be a global leader with the best content, digital presence, and strong data collection and analysis allowing for direct interaction with fans through all available channels and with a particular focus on younger and international audiences.
Ahead of new season Boost La Liga project gets green light
Boost La Liga will allow La Liga and its clubs to adapt to the modern day demands of the sector with the backing of CVC, a partner with extensive experience. The agreement has been signed with LaLiga valued at a historic €24.25 billion by leading independent experts Rothschild & Co and Duff & Phelps.
La Liga was advised by Uría Menéndez, KPMG, and Bibium Capital, while CVC was advised by Latham & Watkins, Two Circles, and Oliver & Ohlbaum.
La Liga President Javier Tebas said: “This agreement is a historic milestone not just for La Liga but also for football and sport in general. La Liga and its clubs now have the best partner possible to successfully pre-empt and navigate changes on the horizon and I believe that we are setting a precedent for other leagues in Europe and around the world to follow.”
Nick Clarry, managing partner and head of Sports, Media & Entertainment at CVC, said: “We are truly grateful for the trust that LaLiga and its clubs have placed in us. LaLiga is the top sports competition in Spain and one of the leading competitions in the world. We are excited to help in this new phase for the long-term benefit of fans, players and the competition.”
The injection of nearly €2 billion commits participating clubs to allocating up to 70 per cent of the funds to investments linked to infrastructure, international development, brand and product development, talent acquisition, communication strategy, innovation and technology, and a content development plan for digital platforms and social media.
Up to 15 per cent can be used to sign players, with the remaining 15 for reducing debt.
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