Despite opposition from Barcelona, Real Madrid, Athletic Bilbao and the Spanish FA, LaLiga clubs voted in favour of a deal with CVC.
LaLiga has announced the agreement of an investment deal between private equity fund CVC Capital Partners and Spanish top-flight clubs.
Barcelona, Real Madrid, Athletic Bilbao and another unnamed club were among the teams to oppose the deal, which is worth €2.1billion and went ahead after 37 of the 42 combined clubs in Spain's Primera and Segunda divisions voted in favour - with 32 the minimum number of votes required for the deal to go through.
The agreement involves LaLiga giving up a percentage of the revenue it generates from TV rights for the next 50 years, while Spanish clubs are provided with an immediate financial boost.
LaLiga president Javier Tebas receives a seven-year contract with the joint venture, leading to criticism regarding a potential conflict of interest.
Tebas: "We are facing a new milestone in the history of LaLiga"
"We are facing a new milestone in the history of LaLiga and the clubs," Tebas said after the assembly on Friday that ratified LaLiga's deal with CVC.
"We are proud to have reached this agreement with CVC, a project that will allow us to continue the transformation towards a global digital entertainment company, strengthening the competition and transforming the experience of the fans.
"Despite all the obstacles that we have encountered along the way, we have carried out this project, which will be a before and after for LaLiga clubs, which will be able to improve their infrastructures, develop their brand internationally and take giant steps to continue strengthening sport and football around the world."
The Royal Spanish Football Federation, along with Barça, Madrid, Athletic and the unnamed club, remain opposed to the deal and may now pursue further legal action.
Barcelona president Joan Laporta previously described the deal as like "mortgaging the club's rights over the next half-century".
Cekacdilu
0
this is the same kind of mismanagement that left Barcelona in shreds
assasink16
1
So the deal is more Tebas securing his own future for the next 7yrs while selling out the rest of Laliga for 50yrs!🤕
tebas is doing more damage to la liga than that 🤡 bartamoeu. this is a scam! no other league will let this happen, 50 years ffs!!
Rayamrst
2
de deal is done ?
Akekala
5
So the deal is more Tebas securing his own future for the next 7yrs while selling out the rest of Laliga for 50yrs!🤕
Willhen
3
Laliga is dead in the waters after Cash Injection from CVC reduced their income for the next half a Century
vuaipuy
0
What is the meaning of CVC
it's kind of a loan deal, in which we would get like 200million, just to pay back 800 million, not to mention, we would lose some tv rights as well it's a robbery over us, we would never allow this to happen
AzuhDante
1
Kohmarz
6
BBV are the destroyers. Tebas is the clown of Bartemau and Valverde, B & V destroyed Barca and T is going to destroy La liga 🥸🥸🥸
Javimor
4
Tebas bloody greedy president
deba_LFC
1
What is the meaning of CVC
don't sweat ur brain dear, ur club is doing d right thing rejecting it, stand with ur club thats all.
Emmerik365
3
it should have been done before Messi left Barca but they refused...why now?
Toecduyz
0
What is the meaning of CVC
zimbabimba
5
And Tebas gets a 7 years contract with the company... Smells awful
el_chupacabra
3
Them €2b will cost the clubs way too much 🤐 For the season 19/20 the clubs got paid €1.6b in Primera and Segunda in total, so even if we take this number, for 50 years it will be €80b, so CVC will get more than €9b very very roughly calculated... It will be waaaay more 🤐🤐🤐