TOKYO — Spain’s top soccer league has agreed to a deal in principle to sell 10 percent of its commercial business to a private equity firm, CVC Capital Partners, for around $3 billion. If approved by the league’s clubs, the deal could help the league’s cash-strapped teams, including giant ones like F.C. CVC, a major sports investor, has been trying to strike similar deals with major leagues across Europe in recent years. In a statement on Wednesday after The New York Times reported the agreement, La Liga said it would place all the assets related to the deal into a new company in which CVC will be a 10 percent partner. La Liga would retain total control over the selling arrangements for its broadcast contracts and sporting regulations.

Source: New York Times August 04, 2021 02:48 UTC