Barca, Real, Athletic Take Legal Action Against La Liga, CVC

Barcelona, Real Madrid and Athletic Club have launched legal action against the deal between LaLiga and the private equity fund CVC Capital Partners.

In a joint statement issued on Wednesday, the clubs confirmed: "Athletic Club, FC Barcelona and Real Madrid report that they have taken legal action in response to the agreements adopted by the LaLiga Assembly in relation to the so-called Impulse Project that LaLiga intends to undertake with the CVC venture capital fund, as it is an illegal transaction that causes irreparable damage to the Spanish football sector as a whole and flagrantly violates the most elementary principles of Spanish sports law and the LaLiga statutes."

On Friday, a majority of 37 out of 42 clubs in Spain's top two tiers voted in favour of the investment agreement, which is worth €2.1billion.

The deal involves LaLiga giving up a percentage of revenue generated from TV rights over the next 50 years, with clubs providing a more immediate financial boost.

The La Liga trio has been embroiled in a war of words with LaLiga president Javier Tebas in recent weeks after describing the CVC deal as potentially "ruinous" for Spanish football.

Barcelona president Joan Laporta previously described the deal as like "mortgaging the club's rights over the next half-century".