Spanish clubs at war against sports law that could cost 9.1 billion euros
Spanish football could be in turmoil next week as a new sports law is passed on Tuesday.
Originally, a number of proposals were agreed between the Partido Popular and the Partido Socialista Obrero Espanol, the opposition and the ruling party, which would make changes to the law.
However, in recent days they have been retracted, causing panic among the 39 clubs involved in the CVC deal, all in the top two divisions apart from Athletic Club, Real Madrid and Barcelona. This could lead to a strike next week.
The other 39 clubs want the law changed so that if Real Madrid and Barcelona create and join a Superleague, they will have their licenses revoked to play in Spain, making the two incompatible.
The other key issue is that with the law as written, it can make the CVC agreement illegal. Diario AS say it could cost the 39 clubs involved €9.1bn over the next ten years.
The €2 billion already invested in the clubs would be converted into debt maturing over the next 15 years and the €1 billion still to come would obviously not arrive. The CVC deal also impacts more than 50 sponsors and if they were to be removed, it would cut sponsorship money by €2.6 billion. Similarly, TV rights would fall by around 3.5 billion euros, investments in technology would also fall by 2.42 billion euros.
How much or if these deals would be replaced and at what kind of rate is still unknown.
The timing and severity of these numbers suggest there is certainly an interest in this news reaching the public sphere, which Real Madrid and Barcelona might find too convenient. However, that’s not to say the numbers aren’t believable. If this law is passed, it could change the face of Spanish football for good given the financial crisis that could ensue.
Image via Los Oliva