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LaLiga clubs approve €2bn CVC deal

(Photo by Brian Ach/Getty Images for LaLiga)

The plan for private equity firm CVC Capital Partners to invest €1.994bn ($2.3bn) in a new company controlling Spanish LaLiga media and sponsorship rights is to go ahead after getting backing from 37 of the league's 42 clubs.

Reuters reported that Real Madrid, Barcelona, Athletic Bilbao and Ibiza voted against the deal. Real, Barcelona and Bilbao have consistently opposed the deal, believing they could get better terms. Real Madrid president Florentino Pérez was reported two weeks ago to have formulated a rival financing plan with investment from US-based financial services company JP Morgan.

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