Real Madrid to sue La Liga, CVC chiefs over $3.2 billion stake sale

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Real Madrid to sue La Liga, CVC chiefs over $3.2 billion stake sale
Real Madrid to sue La Liga, CVC chiefs over $3.2 billion stake sale (Provided by Financial World)

Real Madrid Club de Fútbol, the towering and titanic Spanish top-flight football club having had 34 La Liga titles along with 19 Copa del Rey trophies, have been set to file civil and criminal lawsuits against La Liga President Javier Tebas alongside a Luxembourg-based private equity firm CVC Capital Partners’ Chair Javier de Jaime Guijarro over a proposed $3.16 billion stake sale in a new entity that would manage most of the league’s businesses, the 119-year old top-tier Spanish football club had said in a statement on Tuesday.

On top of that, Real Madrid also had stressed that the Spanish football giant, often contemplated as a historic constellation of royal footballers around the globe that won 13 UEFA Champions League titles, the most by any European football club, would seek legal actions to thwart an approval of the slated deal subjected to the votes of La Liga members.

Nevertheless, latest move from Real Madrid came against the backdrop of a La Liga remark last week that said the deal, dubbed as “Boost La Liga,” would bolster the leagues’ financial status and provide La Liga with a fresh capital influx that could be spent on new infrastructures and modernization of the league, while the deal was also aimed at increasing the amount a club could spend on players’ salaries at this standpoint.

However, Real Madrid and FC Barcelona, two of the most valuable La Liga megaliths in terms of asset, had fiercely opposed the deal since it would hand out a 10 per cent stake in the league’s television rights to CVC Capitals.

Real Madrid to sue La Liga President Tebas

Followed by the announcement, Tebas turned to Twitter to criticize Real Madrid President Florentino Perez for exercising ‘threatening methods,’ while fending off its stance on the deal, CVC Capital Partners said in a statement, “The legal action announcement is totally disproportionate and manifestly unfounded”.

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