“Embarrassing”: the RFEF criticized LaLiga for the investment agreement with CVC

The pact between and the investment fund CVC continues to cause controversy in soccer in Spain. To the refusal of Y The president of the Royal Spanish Football Federation (RFEF), Luis Rubiales, has joined, who described the investment agreement between the entity chaired by Javier Tebas with the venture capital company CVC as “embarrassing” and insisted that he not do so. considered legally binding.

LaLiga announced this month that it had reached an agreement with CVC worth 2,700 million euros (3,170 million dollars) in exchange for a return of 10% of the income of the league tournament, as well as a 10% stake in a company newly created that hosts a number of commercial activities, including centralized television rights.

The announcement drew strong opposition from Real Madrid, who said they would sue LaLiga, while Barcelona also rejected the proposal.

As a result, CVC modified its offer, allowing clubs to opt out, and 38 of the 42 teams in the country’s top two divisions approved the motion last week. Athletic Bilbao and Oviedo joined the aforementioned duo to reject it.

Following the announcement, the RFEF said it considered the proposal illegal, something Rubiales reiterated on Tuesday. “It is a historic agreement, it is the embarrassment agreement”, he said in a meeting with all the first division clubs.

“We are facing the biggest case of club decapitalization in the history of Spanish football. That an agreement is approved by majority is good, but it does not make it legal ”, he pointed.

“LaLiga has made calculations that it proposes in the next years. The RFEF is the guarantor of the competition itself. Irreversible damage is being done to the competition “, he claimed. “It is a historic agreement, but for CVC.”

The general secretary of the RFEF, Andreu Camps, supported the president’s words: “The Federation says not to mention and will go to the end to avoid it.”

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