LaLiga Fuels Growth With CVC Investment, While Taking On Piracy
March 5, 2025
LaLiga President Javier Tebas wants his league to reach new heights. And he is committed to do it collectively.
“We need to be together so we can grow together,” Tebas told 659 executives from 41 LaLiga clubs las week as the league and its investors, private equity giant CVC Capital Partners, evaluated the progress of LaLiga Impulso (Boost LaLiga), the joint investment project, in the coastal town of Tarragona, Spain. “Think long term,” Tebas said. “Not short term.”
Only time will tell what will happen long term. But LaLiga’s $2.1 billion investment deal with CVC Capital Partners has entered its fourth year, showing signs of global expansion and financial growth for participating clubs.
“We are very happy with the progress of the plan,” said Stefano Gastaut, a partner at CVC. “Impulso is a very ambitious project that La Liga is driving very effectively.”
The deal grants Luxembourg-based private equity firm an 8.25% stake in LaLiga’s broadcast rights for the next 50 years in exchange for a cash injection. League heavyweights FC Barcelona and Real Madrid opted out. At the time of the deal, LaLiga projected that the league’s total business value would grow from $26 billion (€24.2 billion) to between $35 billion to $37 billion (€33 billion and €35 billion) within seven to ten years.
CVC’s investment is the first major agreement of its kind, allowing a private equity firm to take a stake in a league. The deal came at a pivotal moment, as sports leagues worldwide were still recovering from the financial hit of the COVID-19 pandemic. According to the agreement 70% of the funds are designated for long term investments in infrastructure (both physical and professional) while 15% for debt repayments and 15% for improving squads through wages and transfer fees. To date, all the clubs that have requested funds have invested part of them in improving their infrastructure, such as stadiums, training grounds and hospitality areas. League said, two years ago, hospitality seating in LaLiga stadiums accounted for just 3.1% of total capacity, compared to 12% in the English Premier League. Four years into the initiative, that number has risen to 4.1%.
To date, clubs have received over two-thirds of the investment and have seen results both on and off the pitch. According to data shared at a recent LaLiga event, business revenue from sponsorships, matchday earnings, and merchandising among participating clubs has increased by 46% since 2021 compared to the 2018/19 season.
LaLiga Impulso is Part of a Cultural Change
But infrastructure upgrades and hospitality offerings are only one piece of Boost LaLiga’s broader objectives.
“We are changing the mentality of the clubs,” Jaime Blanco, the director of the Clubs’ Office (Oficina de Clubes), a dedicated consultancy service for clubs established by the league to ensure the effective use of CVC funds. Led by Blanco, the office works closely with participating clubs, reviewing and approving all investments to maximize their impact.
“This is a cultural change and it is super important. At the beginning, we were thinking about money. But we needed put the idea in the minds of everyone that we compete on the pitch, but off the pitch, we don’t compete, we work together,” Blanco told me in Tarragona.
Similar to major leagues in the United States, Blanco’s team works with club executives in a variety of topics from international outreach to growing match day revenue by utilizing unused season tickets to increase data collection to understand spending habits of the fans. So far in in 2024-2025 season LaLiga clubs held 1130 events globally, compared to 722 the year before. The league also aims to tap into 90 million visitors who visit Spain annually. “Foreign fans spend more money in the stadium,” Blanco said. “We are working with clubs so they can take advantage of this and fill their stadiums 365 days.”
Tebas Urges Stronger Crackdown on Piracy
While the long-term vision focuses on league wide growth, LaLiga President Javier Tebas has a more immediate battle on his hands: combating audiovisual piracy, which drains an estimated $630 million (€600 million) annually from the league and its teams.
The league’s piracy efforts are mainly in Spain, Latin America and Nordic countries, which are the most important markets for LaLiga. According to Tebas, Google and Cloudfare either facilitate or benefit from piracy. With LaLiga’s current technology, out of 400 piracy acts committed through Cloudfare, the league can block 100. The league is sharing this technology with many countries to help stop piracy acts. Tebas aims to do more, collectively.
“We have to be clear and take a stand against companies that facilitate piracy,” he told me. “We can’t go after these guys with a water gun.”
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