The Spanish Football Association (RFEF) has rejected a proposed multibillion-euro investment and revenue-sharing deal between La Liga and private equity firm CVC, saying the deal “increases inequality” and could affect the future of the competition.
The Spanish football league last week said CVC would inject 2.7 billion euros ($3.2 billion) into La Liga in exchange for 10% of its revenue and a 10% stake in most of its business, with 90% of that financial injection going to clubs.
La Liga, host to Real Madrid and Barcelona, said that the deal, called “Boost La Liga”, would strengthen its clubs and give them funds to spend on new infrastructure and modernisation projects as well as increasing how much they could spend on players’ salaries.
“The RFEF, being aware of the various complaints and comments made by various First and Second Division clubs, has communicated its firm opposition to this agreement,” the Spanish FA said in a statement on Wednesday which drew the ire of La Liga president Javier Tebas.
“The most important point is that the agreement increases inequality and fundamentally makes a reasonable development of the format of professional football competition in Spain impossible“, the RFEF added.
In a strongly-worded tweet, Tebas suggested that the Spanish FA had not properly studied the proposed CVC deal and said they were quick to criticise La Liga despite remaining silent over the prospect of a breakaway European Super League.
“The RFEF finally issues the long-awaited statement on the Superleague… Ah no! About a project that liquidated Spanish football THEY SAY NOTHING,” Tebas tweeted.
“Of course, they don’t fail to attack La Liga. Instructions must be obeyed… even if they haven’t studied the documents!”
On Tuesday, Real Madrid said they would launch civil and criminal lawsuits against Tebas and CVC Capital Partners’ chief Javier de Jaime Guijarro over the deal.
Barcelona are also opposed, with club president Joan Laporta saying the deal was like “mortgaging the club’s rights over the next half-century”.
Laporta also said he would reject the deal, even though it would have helped alleviate the Catalans’ financial problems and allowed them to re-sign Lionel Messi, who has left Barca to join Paris St Germain.