UPDATE: Goldman to lend €1bn to CVC for LaLiga deal

Goldman Sachs will contribute a €1bn syndicated loan to private equity firm CVC’s planned €2.7bn investment in Spain’s top football league, LaLiga, two sources familiar with the matter said on Wednesday.

Online newspaper El Confidencial first reported Goldman’s involvement in the proposed deal, which is due to be voted on by LaLiga’s member clubs on Thursday and which has drawn fierce opposition from Real Madrid and FC Barcelona.

The league said last week that the deal, called “Boost La Liga”, would strengthen clubs and give them funds to spend on new infrastructure and modernisation projects as well as increasing how much they can spend on players’ salaries.

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Some clubs have opposed the deal as it gives CVC a nearly 11% share in the league’s television rights for the next 50 years.

Barca’s president Joan Laporta described the deal as effectively mortgaging the clubs’ rights for the next half century, while Real Madrid has filed lawsuits against La Liga president Javier Tebas and CVC Capital Partners’ chief Javier de Jaime Guijarro.

Goldman Sachs declined to comment while a spokesperson for LaLiga didn’t immediately answer to a request for comment.

Source: Reuters

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