Barça, Madrid and Athletic's alternative to CVC deal gathering support
The three clubs are not happy with La Liga's 50 year long payback proposal
Javier Tebas’s plan is shaking. The ‘Project Impulse’ that the La Liga chief launched with CVC is losing support after Barcelona, Real Madrid and Athletic Bilbao publicly stepped away from it. They are offering instead ‘Project Sustainable’, a counter-proposal, which SPORT have learned has gained support from more than one other side.
There could be a twist on the meeting on December 10, when 39 clubs have to give the greenlight to Tebas’s deal.
Barcelona, Madrid and Athletic are proposing an injection of two billion euros, the same figure, but reducing the time they wold have to pay back their financiers, JP Morgan, HSBC and the Bank of America. CVC’s deal would see La Liga paying them for the next 50 years.
Tebas criticised the deal as “conceptual and worked on little”, among other things in a letter.
The three clubs offering it say “it’s not a conceptual offer and gives the same guarantees as that of the CVC deal but with a very different economic impact.”
They say it is 15 times cheaper than the CVC deal, and would keep being so even in catastrophic scenarios, including if rights fall 75 per cent.”
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