La Liga and CVC did not respond to requests for comment.
The deal for an ownership stake would be the first of its type by a major European league, and it would come as the soccer industry works to get its finances on track after being buffeted by the lingering effects of the coronavirus. The pandemic, which closed stadiums for months, resulted in billions of dollars in lost revenue and exposed the precarious business models of some of the sport’s top clubs, where profligate spending and bad decisions regularly put teams at risk of bankruptcy.
The CVC/La Liga agreement comes at a particularly delicate time for Spanish soccer. Its two biggest clubs, Barcelona and Real Madrid, are still trying to forge ahead and create a breakaway European Super League, a midweek club competition for the continent’s top teams, after an initial effort to launch the project failed spectacularly in April. One of the biggest objections to that project came from La Liga, whose president, Javier Tebas, remains a vocal critic of the scheme that he said would destroy the fabric of European soccer.
Yet much of the rationale for the teams’ breaking away is similar to the motivation for La Liga to join up with CVC. The pandemic has been punishing financially for European soccer clubs, particularly those with the largest stadiums, who are losing billions of dollars of revenue and struggling to meet outsized payroll commitments.
Barcelona’s finances have attracted the most attention. The team has been desperately trying to restructure its debt under a new president, Joan Laporta, and has been told by the league that it needs to shed about $200 million in salaries to re-sign its biggest star, Lionel Messi, whose contract expired at the end of June.