Spanish league sells 10% of trade rights for $ 3 billion

LaLiga News: The Spanish league decided to sell 10% of its commercial rights to a private equity firm for around $ 3 billion

LaLiga News: Spanish league sells 10% commercial rights for around $ 3 billion- Spain’s leading football league on Tuesday agreed to sell 10% of its business to a private equity firm. The New York Times reported on the deal citing how the league sold a small portion of its business to a firm named CVC Capital Partners earlier this week. However, the deal is also expected to be concluded once Spain’s football governing body obtains the approval of all clubs and its members, as well as other parties involved.

The deal is said to be worth around $ 3 billion and was planned to help various clubs that have suffered from the financial crisis amid the current Covid-19 pandemic situation. FC Barcelona will be one of the biggest profits from the deal if it is approved with the cash-strapped club who should find a way to ease the financial debt pressure they find themselves in.

Also read: LaLiga News: Lionel Messi signs five-year contract with FC Barcelona

This is not the first time that CVC Capital Partners has decided to buy a stake in the media sector, with the private equity firm also in talks with the top Italian football league, Serie A, last year. , only to see the deal fail following a serious objection. by a few clubs.

LaLiga has also been busy making business deals with the Spanish League to expand its partnership with Microsoft Corp earlier this year to help teams generate more revenue and increase their cash flow. The decision was made to help small clubs cope with the loss of revenue and game day income and also to go digital by engaging the fan base with digital products.

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