La Liga clubs reapprove CVC deal despite Florentino Perez’s alternative offer

La Liga clubs have decided not to back Athletic Club, Barcelona and Real Madrid in their bid to provide alternative finance to the CVC deal.

Earlier this season, La Liga’s executive board, made up of the chiefs of 10 clubs, voted to pass the CVC financing deal.

The deal gave clubs a large amount of money upfront – the majority of which has to be spent on infrastructure improvements – in return for 10% of certain profits for the next 50 years.

Athletic Club, Barcelona and Real Madrid rejected the deal, and decided not to take it.

And last week, Real Madrid chief Florentino Perez proposed an alternative deal, which looked more attractive in some aspects.

The deal was a straight up loan, costing clubs less on interest across 25 years while not promising any percentage of future profits.

But when Perez proposes such a deal, it’s not usually simply because he wants to help fellow clubs.

The Real Madrid president is attempting to form a Super League, and he has often been at war with La Liga chief Javier Tebas.

Many clubs recognised this was a power play and decided to remain loyal to the league.

As reported by ESPN, the La Liga and Segunda clubs have voted in favour of the CVC deal despite the promise of an alternative.

Only UD Ibiza of the Segunda have joined Athletic Club, Barcelona and Real Madrid in rejecting the deal.

Tags Athletic Club CVC FC Barcelona La Liga Real Madrid

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