LaLiga trio open legal proceedings against CVC deal

LaLiga clubs last week voted in favor of a €2 billion investment deal with CVC.

However,

,

, and

were the only La Liga teams who did not sign up to the agreement, which saw LaLiga giving up 10%  of revenue generated from TV rights over the next 50 years, with clubs provided a more immediate financial boost.

While the other teams are expected to get the initial €400 million in cash in the coming weeks, Real Madrid, Barcelona, and Athletic club will not, but they will keep all of their TV rights revenue.

The three teams have declared that they would sue La Liga for creating "irreparable damage to the Spanish football sector as a whole."

The full statement from Athletic Club, Barcelona, and Real Madrid is as follows:

“Athletic Club, FC Barcelona and Real Madrid report that they have taken legal action in response to the agreements adopted by the La Liga Assembly in relation to the so-called Impulse Project that La Liga intends to undertake with the CVC venture capital fund, as it is an illegal transaction that causes irreparable damage to the Spanish football sector as a whole and flagrantly violates the most elementary principles of Spanish sports law and the La Liga statutes.”

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