The British institution, Rights and Media Funding Limited is expected to make a loan of around 67 million euros to 11 La Liga football teams.
The amount will be destined to help Spanish teams in difficulty due to the pandemic of the new coronavirus, which caused all teams to lose income from ticket sales and hospitality services.
According to SBC Notícias, the loan will be transferred mainly to the teams of La Liga SmartBank, the second division of professional football in Spain, in addition to the clubs that have just risen to the national elite.
“Obtaining this type of loan is clear proof of the financial stability and confidence in the future of Spanish clubs and La Liga,” said José Guerra, general director of the sports organization.
Guerra also added that “it opens the door to a new financing channel where clubs can ascend to the market in a coordinated way” and, thus, find better conditions for development on and off the field.
Also according to the director general, “La Liga, in its role of protecting the economic stability of professional football, facilitated the access of interested clubs to a financing tool that will cover the liquidity needs of the participating teams, optimizing financing possibilities and reinforcing the capital structure “.
To secure this loan offer, the institution responsible for the Spanish football championship worked in partnership with the law firms JB Capital and Pérez Llorca.
About La Liga
The First Division of the Professional Football League, known only as La Liga or the League of Stars, is one of the most prestigious football competitions in Europe.
The sports championship is disputed by 20 clubs, under the system of dispute of running points, where the clubs play each other in the model of turn and return.
