Top Spanish soccer league strikes $3 billion deal with private equity firm

Spanish soccer league La Liga has agreed to sell 10% of its commercial business to CVC Capital Partners for around $3 billion.

The bottom line: "If approved by the league's clubs, the deal could help the league’s cash-strapped teams, including giant ones like F.C. Barcelona, repair their finances and ease a cash crunch caused by the coronavirus pandemic," the New York Times writes.

Details: The related assets would be placed into a new company in which CVC will be a 10% owner. La Liga would retain control over the selling arrangements for its broadcast contracts and sporting regulations.