The ‘Boost LaLiga’ project has officially been given the green light, following the unanimous approval of The LaLiga General Assembly’s Executive Committee (Comision Delegada).
With 38 votes in favour of ‘Boost LaLiga’, the General Assembly, who needed the support of at least 32 of the 42 member clubs, have approved the initiative which will see CVC Capital Partners become an ally of LaLiga and its clubs. The clubs that have approved the operation will receive up to a maximum of $4.89 billion.
Through this agreement, CVC will have strengthened their strategic vision of boosting global growth and continuing their transformation into a global digital entertainment company. LaLiga will retain its sports responsibilities as well as the organisation and management of the marketing of the audiovisual rights.
Boost LaLiga is an unprecedented milestone, representing the greatest growth for Spanish football in its history. The project allows LaLiga, with the help of an internationally renowned partner, to execute a long-term strategic plan of investment.
Boost LaLiga will provide LaLiga clubs with the necessary resources to improve the competition and the experience of its fans, accelerating clubs’ growth and making LaLiga the world’s leading sporting entertainment provider in the medium term.
The ambitious investment plan will heighten the professionalisation of the clubs and provide a more attractive competition, with better facilities, players and fan experience. All of which will be supported by a competition model to be more digital, more focused on data generation and analysis, and greater international exposure.
These clubs have also committed to the allocation of 70% of the resources they receive within the framework of this project to investments related to their development in both infrastructures and technological innovation, with the possibility of an additional 15% for the registration of players and the other 15% for the restructuring of financial debt.
LaLiga President Javier Tebas was excited to see the agreement with CVC come to fruition through the General Assembly’s support.
“We are convinced that Boost LaLiga is the answer to the challenges we have to face in the medium and long term,” he said.
“It is a strategic agreement that will provide our clubs with greater capacity, will transform their management model and boost the appeal of our competition. It is the boost we need to turn LaLiga into a global digital entertainment company that has the most attractive football competition in the world.”