Xinhua: On Wednesday, the Spanish football league (La Liga) confirmed an agreement with a private equity firm CVC Capital Partners to invest 2,700 million euros (3,202 million US dollars).
La Liga announced the agreement would see the two entities create a new company on its official website. CVC will have a 10 per cent stake, with La Liga retaining the competition’s management and commercializing audiovisual rights.
La Liga explained that “90 per cent” of the investment will be “directly concentrated in the clubs, including women’s football, semi-professional and non-professional football,” and stated that the agreement would “protect the economic viability of all Spanish football clubs,” as well as opening a “new present and future for them by allowing them to advance in their development and transformation for a decade.”
The central organizing body explained in a press release that the agreement also aims “to maximize all the growth opportunities that clubs have [to] develop a new business model that allows them to diversify and intensify income generation and marketing models and accelerate its digital transformation”. The goal is towards digital transformation would help achieve a “direct relationship with the fan, based on technology and digital and analytical capabilities”, it added.
