The LaLiga Extraordinary General Assembly has ratified the 'LaLiga Impulso' project, the strategic agreement reached with the CVC investment fund to promote the global growth of LaLiga and its clubs, including Valencia CF.

In total, 37 of the 42 clubs voted in favour of the project, 4 against and one abstention, which will allow a total of 1,994 million euros to be received to undertake growth and consolidation projects in sporting and business aspects.

'LaLiga Impulso' aims to incorporate a partner with extensive experience in Spain and in the  field of sport that contributes long-term capital and proven industrial experience to helping LaLiga and its clubs grow globally, at a time of great challenges and uncertainties for the entertainment industry.

The new formulation, approved by the competent body of LaLiga, guarantees the absence of impact on non-participating clubs. For the rest, this economic injection commits the clubs to allocate at least 70% of the resources to investments related to infrastructure, international development, brand and product development, communications strategy, innovation and technology plans and development plans for content on digital platforms and social networks, with up to an additional 15% for the registration of players and 15% to cover financial debt.

This alliance is a milestone for the sports industry in general and football in particular, due to all the investments that will be made for infrastructure and development within the clubs. It is an agreement that will mean a 20-year advance in the modernisation processes that will benefit all of Spanish sport.

Many clubs have already presented their development projects, detailing the investment and business plans for which the financing approved in this agreement will be used.

LaLiga president Javier Tebas declared after the Assembly: "This is a new milestone in the history of LaLiga and its clubs. We're proud to have reached this agreement with CVC, which will allow us to continue our transformation towards a global digital entertainment company, improving the competition and enhancing the fan experience." Tebas added that "we've been able to get this project off the ground. I am confident it will be a watershed positive moment for these 37 clubs. It will mean they will be able to improve their infrastructures for fans to enjoy, develop their international brand and collectively take giant steps to continue improving this league's stature around the world."

The signing clubs have agreed with the president of LaLiga and are very satisfied after the approval of the project.

The unique future project for clubs

The ratification of the agreement by the competent body took place on Friday. Real Madrid, FC Barcelona and Athletic Club had requested to leave it in August. The departure of these three clubs brought with it the reformulation of the project, endorsed with 37 of the 42 clubs voting in favour, guaranteeing the absence of impact on those who have remained outside of it.

The ratification of the project puts an end to a process of many months of work and exhaustive analysis in search of the best option to support and promote LaLiga clubs, which has had the professional advice of numerous prestigious firms, such as economic valuations of the operation carried out by Rothschild & Co and Duff & Phelps, respectively, and the consultancies of Uría Menéndez and KPMG, for LaLiga, and Latham & Watkins, for CVC.

This alliance will provide the necessary boost to consolidate LaLiga's position in the entertainment and emotion industry, as well as to advance LaLiga's common goal: To achieve excellence and continue to offer the best quality entertainment product for all fans.