Real Madrid, Barca and Athletic Bilbao defend rival CVC plan

 The controversy continues. After La Liga president Javier Tebas spoke about the agreement with investment fund CVC, who will get 10.95% of the audiovisual rights of those teams for the next 50 years. 

The deal included financial support of 2.7 billion euros, but four clubs opposed to so called ‘Liga Impulso’: Real Madrid, Barcelona, Athletic Bilbao and a Segunda side. 

Now, these three La Liga clubs have come up with a rival offer. ‘Bloomberg’ reported about an alternative plan with banks like JP Morgan, Bank of America and HSBC. 

This Friday, Real Madrid, Barcelona and Athletic Bilbao published a letter via their offical channels which talks about a proposed 42 club deal with Key Capital Partners.

This financing plan, whose name is ‘Sustainable project’, is similar to that of CVC – access to a fund of around 2 billion euros – but the difference is that the clubs will be able to access it at all at once and not in four instalments as with the CVC proposal. The money would be given back in 25 years with 3% interest. In addition, clubs will not be forced to have to hand back 10% of their audiovisual rights for the next 50 years. 

“We are convinced that Spanish football needs a sensible and sustainable financial solution that allows us all to recover normality and face the future with optimism. And in this letter we propose what we consider to be the best solution. We have the duty to oppose an operation such as the one proposed by LaLiga with CVC, which, in economic terms, would be a burden for the future of our football,” the clubs said in a statement.