A 50-year agreement that set the template for what followed.
What happened
LaLiga's clubs approved a modified agreement with CVC in December 2021: about €1.99bn for 8.2% of a new commercial unit, for 50 years, paid in stages. Reports put the vote at 37 or 38 of the 42 clubs in favour.
How it was structured
The original proposal was €2.7bn for around 10%. It was scaled back when the clubs opposed to it were excluded. Real Madrid, Barcelona and Athletic Club later took legal action against the deal.
Our review
This was the transaction that established the league as an investable asset class. Its long term and its litigation both matter: a 50-year claim on income is a very different proposition from a five-year loan, and dissenting members can test it for years.
Sources
Not RMF transactions, just general football and sports transactions. Figures are as publicly reported, and reports sometimes differ. General market commentary, not investment, legal or financial advice.