Women Cut Out of Billion-Dollar Fight Over Spanish Soccer Future

(Bloomberg) -- Women have been cut out of the billion-dollar discussions over the future of Spanish soccer.

Private equity giant CVC Capital Partners, Spanish league organizers LaLiga and three of Spain’s top teams, are currently fighting over how to fund a new broadcasting venture into Spanish soccer, a plan set to be decided on Friday.

The outcome of the deal is vital for Spanish clubs, which have struggled financially during the pandemic. CVC worked with LaLiga on an initial pitch to pay 2.7 billion euros ($3.1 billion) for a 10% stake in a new company that would manage broadcasting revenues of Spain’s top two soccer competitions. 

The original pitch set aside about 5 million euros for women’s soccer. Three powerful clubs -- Real Madrid, FC Barcelona and Athletic Bilbao -- have opposed the deal, arguing it threatened their media rights. The Spanish Federation, which oversees the league, rejected the bid, saying it was uncompetitive. 

In the final proposal from CVC and LaLiga, sent on Dec. 1 to the Spanish clubs, all references to fund female teams were dropped.

The reference to women’s soccer “was withdrawn because, after having three clubs opposing the deal, it was considered that it was better not to involve more parties that would need to provide a view,” said Javier Gomez, LaLiga’s corporate general director.

The parties say there’s still money for women’s soccer, though they don’t say how it will be a guaranteed part of the new broadcasting venture.

Women’s soccer teams could have access to about 4.5 million euros of funding through the venture, LaLiga said in a statement, without specifying how the money is earmarked for these teams, and that “many clubs, such as Real Sociedad and Osasuna, will use part of the funds received to improve or create facilities for their women squads.” 

A CVC spokesman said in an emailed statement that “the original plan to invest around 5 million euro in women’s football has not been changed.” 

Alternative Plan

On Dec. 2, Real Madrid, FC Barcelona and Athletic Bilbao -- the only three clubs among Spain’s first and second division to reject CVC’s proposal -- sent their own proposal to the rest of the teams outlining a rival offer worth 2 billion euros. The pitch did not mention women’s soccer either, according to documents seen by Bloomberg.

Spokespeople from Real Madrid, Barcelona and Athletic Bilbao declined to comment.  

LaLiga needs the approval of a majority of clubs in a vote on Dec. 10 to go ahead.

Barcelona is one of the most successful women’s teams currently, and has staged a match with 60,000 fans. Its midfielder Alexia Putellas won the Ballon d’Or 2021. However, Spain lags behind other countries in generating revenue for women’s soccer. 

England’s Women Super League recently signed a three-year 24 million pound media deal with Sky and the BBC, to broadcast matches in the U.K., along with a two-season contract with CBS Sports to broadcast matches in the U.S. The French league has a pay contract with Canal Plus, the terms of which were not disclosed. 

“With the popularity of women’s football in Spain and the strength of the teams both domestically and internationally, disregarding the sport could end up being an own goal as the only way is up from here,” said Minal Modha, principal analyst, Consumer Research Lead at Ampere Analysis. 

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