Goldman to lend 1 billion euros to CVC for LaLiga deal, sources say

FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo

MADRID (Reuters) - Goldman Sachs will contribute a 1 billion euro syndicated ($1.17 billion) loan to private equity firm CVC’s planned 2.7 bln euro 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.

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.

($1 = 0.8522 euros)

Reporting by Corina Pons and Nathan Allen; Editing by Alison Williams and Elaine Hardcastle