IPL 2022 – CVC La Liga Deal: Global Investment fund CVC Ventures can finally breathe a little easy. One of their two recently stuck investments in the world of sport is sorted. CVC Ventures & La Liga have signed a strategic agreement setting in motion Boost LaLiga (“LaLiga Impulso”), the project to boost the global growth of LaLiga and its clubs. But according to the sources, Global fund is yet to hear from the BCCI on their ownership in Ahmedabad IPL Franchise. – Follow IPL 2022 LIVE Updates on InsideSport.IN
IPL 2022 – CVC La Liga Deal: The signing on Sunday follows ratification with a large majority of Boost LaLiga by the LaLiga General Assembly on Friday with 37 of 42 clubs voting in favour.
The agreement between LaLiga and CVC will see the league and clubs receive a total of €1.994 billion which will be used for technology, innovation, internationalisation, and sporting growth initiatives.
IPL 2022: Great news for IPL Ahmedabad Franchise owners as deal with La-Liga signed, still awaiting for BCCI’s go-ahead on IPL team
The LaLiga Impulso plan will help LaLiga clubs adapt to the modern-day demands of the footballing sector. LaLiga which is valued at €24.25 billion.
LaLiga President Javier Tebas said: “This agreement is a historic milestone not just for LaLiga but also for football and sport in general. LaLiga and its clubs now have the best partner possible to successfully pre-empt and navigate changes on the horizon and I believe that we are setting a precedent for other leagues in Europe and around the world to follow.”
Nick Clarry, managing partner and head of Sports, Media & Entertainment at CVC, said: “We are truly grateful for the trust that LaLiga and its clubs have placed in us. LaLiga is the top sports competition in Spain and one of the leading competitions in the world. We are excited to help in this new phase for the long-term benefit of fans, players and the competition.”
IPL 2022: Great news for IPL Ahmedabad Franchise owners as deal with La-Liga signed, still awaiting for BCCI’s go-ahead on IPL team
Even though Barcelona, Real Madrid, Athletic Club Bilbao and Ibiza have opposed the deal and have threatened to take legal action. However, as per a report by Sport, Barcelona president Joan Laporta is in talks with CVC Investment Fund for a separate deal that was negotiated earlier. The change of heart is due to Barcelona’s flailing financial condition and ahead of the January transfer window, the struggling club wants to have an influx of cash.
Ligue 1 next? – The pioneering agreement between LaLiga and CVC is likely to set a precedent for other European leagues. As per reports, CVC has set their eyes on Ligue 1 which has seen a huge jump in viewership since Lionel Messi, Sergio Ramos amongst other stars made a move.
CVC are in talks for a bid of $1.7 billion for a 20% stake in a new company that will have the media rights of Ligue de Football Professionnel that oversees Ligue 1 and Ligue 2. However, CVC will have competition from Bain Capital, Advent, Apollo, Bridgepoint, EQT, KKR, and Silver Lake. It will see clubs like PSG and Olympic Marseille get additional funds.
IPL 2022: Great news for IPL Ahmedabad Franchise owners as deal with La-Liga signed, still awaiting for BCCI’s go-ahead on IPL team
The €1.994 investment will help clubs to allocate up to 70% into infrastructure, international development besides talent acquisition (transfers) and brand development. The funds can also be used to plan for digital platforms and social media. Of the entire funds available for each club, only up to 15% can be used for transfer while the rest can best used for reducing debts.
It should be noted that Barcelona are currently in $1.57 billion debt while Real Madrid have a total of $1.01 billion. Both clubs are also in the process of modernising their stadiums which will incur further debts.
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