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CVC capital to purchase stake in Spain's LaLiga

Private equity firm CVC Capital have acquired a 10 per cent stake in Spain's LaLiga. They've paid...



CVC capital to purchase stake...
Soccer

CVC capital to purchase stake in Spain's LaLiga

Private equity firm CVC Capital have acquired a 10 per cent stake in Spain's LaLiga.

They've paid around three billion Euro for that share in Spanish football's top-flight and say their aim is to drive "global growth" of the league.

CVC already have Formula One and rugby in their sporting portfolio and the deal is subject to ratification by LaLiga's clubs this afternoon.

“The operation is designed to drive the global growth of LaLiga and its clubs, continuing its transformation into a global digital entertainment company,” the Spanish top-flight announced in a statement.

“The operation will be carried out through the creation of a new company to which LaLiga will transfer all its businesses, subsidiaries and joint ventures and in which CVC will hold a minority participation of 10 percent.

“The agreement is expected to be ratified today by both the La Liga executive committee and the CVC investment committee."

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