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Real Madrid takes legal action against Tebas and the CVC Fund

Real Madrid takes legal action against Tebas and the CVC Fund

Real Madrid announced that it will file a lawsuit against LaLiga president Javier Tebas and the investment fund CVC Capital Partners, to which the Spanish professional football organization sold 10% of its capital on Wednesday.

The Real Madrid board of directors «has unanimously agreed to take legal actions, both civil and criminal, against the president of LaLiga, Mr. Javier Tebas Medrano, against Mr. Javier de Jaime Guijarro, head of the CVC Fund and against the CVC Capital Partners SICAV-FIS Fund itself », Announced the Spanish club in a statement.

On Wednesday, LaLiga, organizer of the Spanish soccer championship, announced an agreement in principle to sell 10% of its capital to the CVC investment fund in exchange for 2,700 million euros (3,200 dollars). An economic injection that fell from the sky for clubs shaken by the pandemic.

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The agreement was criticized the next day by Real Madrid and Barcelona, ​​the two giants of Spanish football, who considered that it was detrimental to the clubs because it gave up control of television rights.

“Likewise, the Board of Directors has also decided to carry out legal actions of all kinds that are deemed appropriate to annul and nullify the possible agreements adopted by the LaLiga Assembly”, which brings together professional clubs and which could validate the agreement Thursday. AFP (HN)

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