Spanish clubs ratify investment plan, without Madrid, Barca

By: The Associated Press Posted: 9:18 AM CST Friday, Dec. 10, 2021 Last Modified: 9:22 AM CST Friday, Dec. 10, 2021

MADRID (AP) — A large majority of Spain's top soccer clubs, with the notable exceptions of Real Madrid and Barcelona, have ratified an investment plan with a private equity firm, the league said Friday.

Read this article for free:

or

Already have an account? Log in here »

To continue reading, please subscribe:

*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.

Read unlimited articles for free today:

or

Already have an account? Log in here »

Hey there, time traveller!
This article was published 10/12/2021 (1714 days ago), so information in it may no longer be current.

MADRID (AP) — A large majority of Spain’s top soccer clubs, with the notable exceptions of Real Madrid and Barcelona, have ratified an investment plan with a private equity firm, the league said Friday.

The league said 37 of the 42 clubs making up Spain’s first and second divisions backed the venture with private equity firm CVC to inject 1.9 billion euros ($2.1 billion) into the competitions.

Madrid, Barcelona and fellow topflight club Athletic Bilbao have criticized the venture that was first presented by the league earlier this year. They recently tried to promote an alternative investment plan through banks that they said would offer better terms.

The league said 70% of the money coming to clubs must be used for “investments linked to infrastructure, international development, brand and product placement, communication strategy, innovation and technology, and a content plan for digital platforms and social media.”

Only 15% can be used for new player signings. The other 15% will be allocated to paying off debts.

The two other clubs which opted out were not named by the league.

___

More AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports