Real Madrid, Barcelona propose alternative to CVC investment in LaLiga

MADRID : Top Spanish football clubs Real Madrid and Barcelona have proposed a 2 billion euro bank credit to finance the country's top soccer league in a bid to derail an approved cash injection offered by private equity fund CVC.

The alternative proposal from Spain's two largest clubs together with smaller Athletic Bilbao would see JPMorgan, Bank of America and HSBC jointly lend 2 billion euros in exchange for an fixed annual payment of 115 million euros for 25 years, a document seen by Reuters showed, confirming a report by the Financial Times.

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