SportsAnother frontal attack by Rubiales on the agreement between LaLiga and CVC

Another frontal attack by Rubiales on the agreement between LaLiga and CVC


The Spanish Football Federation has returned to the charge against LaLiga’s agreement with the British CVC fund by which the clubs will receive an injection of about 2,100 million euros to be returned at low interest in 40 years in exchange for 9% of the profits of the exploitation of audiovisual rights for 50 years. If a week ago the body chaired by Luis Rubiales described the agreement as “illegal”, this Tuesday he called it “embarrassing” and ironic with the “historical” with which it was described by Javier Tebas after approving it last Thursday the assembly of the employer’s association with the support of 38 clubs and four against (Real Madrid, Barcelona, ​​Athletic and Oviedo). “Without a doubt, the agreement is historic, but for CVC,” Rubiales said sarcastically, adding: “It is the largest case of club decapitalization in the history of Spanish football.”

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Asked if the federation remains in its position to denounce, its president said: “We will analyze in depth, but a priori there are issues that violate the law. Usually LaLiga is the one that complains to us, sometime we have to be the ones to take the step. Here only the bottom wins and some other [en referencia a Tebas] It seems that he is going to receive an extra salary to what he already receives. We will do it in the most polite but firm way possible ”. The Federation will not hesitate to sue if the amounts it receives via the 2015 Royal Decree for the commercialization of football rights decrease and invited the Higher Sports Council to do the same if the emoluments that also correspond to it were also reduced.

The endless battle that Spanish football is experiencing added another chapter, caricatured this time by the interactivity between two of its great contenders. While Rubiales intervened from the Luis Aragonés room of the Ciudad del Fútbol before the 30 representatives of the First RFEF (formerly Second B), gathered to be informed of the centralized sale of their television rights, Tebas used their social networks to shoot against the federative speakers. The president of the employer’s association followed streaming the meeting and tweeted that “the Rubiales thing is the aurora borealis” after listening to the interventions of Tomás González Cueto, external adviser of the federation and of the treasurer, Juan Bandrés, who had just explained the arguments by which the federation is very convinced of take the agreement to court. Of the first, Tebas wrote that “he has forgotten to say that he is a Real Madrid expert in proceedings against LaLiga.” The employers understand that behind the federal depth charges against the agreement with CVC is the hand of Florentino Pérez, the third great combatant in the conflict.

The white club, which also announced a lawsuit when the agreement was leaked, is studying how to reformulate its possible complaint after including at the last minute the clause that allowed it, like the other three clubs that voted against, to preserve its part of the business and not cede it to LaLiga. Pérez will not maneuver until his legal services have and study the final document of the agreement. They calculate in Madrid that it will be in November, but they also admit that at the same time they are looking for a plan with better conditions than the one agreed with CVC.

The lines of the frontal attack of the federation to the pact between LaLiga and CVC and in which the demand will be based are diverse. In his presentation, González Cueto pointed out that the agreement violates the Commercial Code regarding contracts called participation accounts, as is the one agreed upon. The federative advisor maintained that payments to CVC cannot be counted as marketing expenses.

Integrity

Cueto also stressed that the partnership that will be created between the employer’s association and the fund decapitalizes the clubs as the former has ceded most of its assets to the new company. LaLiga, for its part, defends that the prestigious law firms (Uría Menéndez and Latham & Watkins) that have intervened in the operation to ensure it legally have given the green light to account the payments to CVC as marketing expenses and that LaLiga has not yielded a single asset to the fund and accuses the federation of not knowing how the participating accounts work.

That Tebas presides over the new society for the next seven years, regardless of whether he continues to lead LaLiga, and that he is also paid for it is another of the legal broadsides that the federation prepares. The employer’s association defends itself: “CVC wants a management team with proven experience and results, they do not want upstarts, and it must be clarified that the salaries of the executives in the new company must be approved by the assembly of clubs.”

The federation also observes a possible vulnerability of the integrity of the competition as the agreement changed the margins of economic control and there were clubs that received information before others, as reported by Real Madrid. LaLiga affirms that the statutes and its regulations regarding the right to information have been complied with and that until August 12, when the agreement was voted on by secret ballot, no one knew its future.

In the legal battle raised by the federation there is also a point that is on the way to increasing the conflict with LaLiga. The federative general secretary, Andreu Camps, warned that the coordination agreement between both entities, which is negotiated every four years, may be affected because the contract with CVC is only valid with the current competition model. Rubiales has already said publicly that the current league format is no longer attractive and others that may be should be studied, to which LaLiga has refused. Even so, the employers assures that “if it is shown that there is a more profitable competition model, CVC will have no problem accepting it, but what neither the fund nor the clubs want are improvisations without data on the effects.”

With the face-up cards of the contestants, everything indicates that a judge will determine who sings the forty to whom.

Interactive battle between Thebes and Rubiales

The federation denounced before the 40 clubs of the First RFEF (former Second B) that the LaLiga agreement with the CVC fund does not give money to those who rise within 11 years and that they will have to give up their 9% of the business if they go up from category. The federative external advisor González Cueto said he hopes this will be corrected. The treasurer of the federation, Juan Bandrés, gave the example that, with a growth in LaLiga’s profits for television rights to 3%, a club that accessed 49 million euros of those contributed by CVC would stop entering 423 during the 50 years that the agreement with the fund lasts and that at 5% growth it would be 675. This was questioned by the representative of Linares, who replied that with these growth rates the turnover of a club would grow so much that it would stop entering Those 423 or 675 million euros would not matter to him. Rubiales replied that “with an individual loan, the clubs would have returned the money.” LaLiga has defended that the agreement with CVC, unlike what it would mean to access a bank loan, also implies that the fund adds value to the digital development and internationalization of clubs. In the interactive battle fought while Rubiales spoke, Tebas tweeted about Bandrés: “Apart from not understanding the operation, not explaining it correctly, saying that 38 LaLiga clubs don’t find out and he did, as in his time at Real Zaragoza …” . Rubiales interrupted his speech to reply: “Among a professor in Economics [Bandrés] and another who doesn’t even have a degree, I’ll take the first one ”. After two hours explaining and debating the agreement between LaLiga and CVC, the 40 clubs voted in favor of the sale of their television rights to Fuchts Sports and OTT Footers for 9 million euros over three years.

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