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Spain's La Liga agree deal to sell stake to CVC Capital

If ratified, the deal will give Spanish clubs a badly-needed cash injection.

Lionel Messi of Barcelona.
Lionel Messi of Barcelona.
Image: Dppi/Marc Gonzalez Aloma

SPAIN’S LA LIGA announced it has agreed in principle to sell 10 percent of its business to private equity firm CVC Capital Partners for €2.7 billion to help finance long-term growth.

“The operation is designed to drive the global growth of La Liga and its clubs, continuing its transformation into a global digital entertainment company,” the league said in a statement.

“The operation will be carried out through the creation of a new company to which La Liga will transfer all its businesses, subsidiaries and joint ventures and in which CVC will hold a minority participation of 10 percent.”

The deal, the first of its type by a major European league, values the league at €24.2 billion and is due to be ratified by the La Liga and CVC boards later Wednesday, the statement added.

 © – AFP, 2021

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