Spain’s La Liga agrees to sell 10pc stake to CVC for US$3.2b, says source | Malay Mail

📆 8/4/2021 10:12 AM
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MADRID, Aug 4 — Spain’s top football league has agreed in principle to sell 10 per cent of its business to private equity firm CVC Capital Partners for €2.7 billion (RM13.5 billion) to help finance its long-term growth plans, a source close to La Liga said on Wednesday. The deal, which was...

MADRID, Aug 4 — Spain’s top football league has agreed in principle to sell 10 per cent of its business to private equity firm CVC Capital Partners for €2.7 billion to help finance its long-term growth plans, a source close to La Liga said on Wednesday., values La Liga at around €24.2 billion and will fund structural improvements while also offsetting some of the immediate impact from Covid-19, the source said.

The sale still requires a nod from the league’s executive committee and clubs. If approved it could help cash-strapped teams including FC Barcelona shore up faltering finances that were dealt a fresh blow by the pandemic.

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