In a years-long dispute over a billion-dollar deal, the top Spanish football clubs Real Madrid and Athletic Bilbao have now suffered a defeat against the country’s professional league.
A court in Madrid ruled in favor of President Javier Tebas’ league, La Liga announced. A justice spokesman confirmed the verdict. The clubs can appeal the decision, but they have not announced such a step for the time being.
Controversial deal with CVC
At the end of 2021, the vast majority of Spanish professional clubs approved the professional league’s deal with an investor from Luxembourg, the former Formula 1 owner CVC. For a financial injection of almost two billion euros, CVC will collect around eleven percent of the TV revenues of the 1st and 2nd leagues for 50 years. The investor also takes over around eight percent of the commercial and technology rights.
Accusation: “Illegal transaction”
At the time, league boss Tebas spoke of a “milestone” in football development. However, the plaintiff clubs had complained about “an illegal transaction” that caused “irreparable damage to all of Spanish football” and “flagrantly violated the most elementary principles of Spanish sports law and the statutes of La Liga.”
The clubs that are against the agreement do not receive any money, but do not have to give up any rights either. Nevertheless, they went to court against it. A statement from La Liga said: “The judgment confirms the legality of the project and finds that it is in line with the applicable legal and regulatory framework.”