BarcelonaOver the last century, Barça and Real Madrid have been the protagonists of one of the most passionate and media-driven football rivalries in the entire world. The hostility with which the Santiago Bernabéu will receive the Blaugrana team this Thursday, however, will contrast with the good relationship maintained by the two boards of directors. Florentino Pérez has gone from being declared persona non grata at Camp Nou to become Joan Laporta’s preferred strategic partner. What reasons have led these two eternal enemies to approach positions to the point of going arm in arm in key negotiations in which they have defended each other?
It is no coincidence that the white club was the only one that did not join the joint statement issued by 40 of the 42 clubs in the League in which they showed concern for the facts of the Negreira case. “Real Madrid respects the times of justice, we have to wait for the investigations of the prosecutor’s office to be resolved”, limited the director of Institutional Relations of the white club, Emilio Butragueño. Barça and Madrid began to realize that they needed each other following the negotiation for the collective sale of television rights. A proposal supported by almost all the clubs, but which the two giants viewed with suspicion. Neither of them wanted to lose their share of the pie: since the beginning of the 21st century, they have received nearly 140 million euros annually thanks to the generous individual contracts they had negotiated with different television operators. The difference with the rest was abysmal. In 2014, the third club that received the most for this concept, Valencia, received 46 million.
A year later, the assembly of the League ended up approving the centralized sale of television rights with the only vote against Madrid. Barça was in favor of it in exchange for imposing that the two giants guarantee, until the 2021-22 season, a minimum of 22.8% of the total rights, a percentage lower than the 35% that they reached in control when each team negotiated individually. In practice, however, it allowed them to maintain a similar income: since the 2015-16 season, Barça has received an average of 152 million, while Madrid has obtained 147. In total, this means that the Barça club has received 1,070 million in the last seven years, for 1,031 of the white group. Atlético de Madrid, third, has entered 788. Espanyol, on the other hand, only 352 (an average of 50 million per year).
Even with the current distribution, Barça and Madrid are still two of the European teams with the most television income. Across the continent, they are only surpassed by the Big Six from the Premier League: Manchester City, with 1.08 billion pounds (1.158 million euros); Liverpool, with 1,011 (1,151); Manchester United, with 990 (1,127); Chelsea, with 981 (1,116); Tottenham Hotspur, with 970 (1,104); and Arsenal, with 953 (1,084). A tiny difference despite the disparity that still exists between the two championships: the Premier League billed €2.887 billion in 2021-22 for its television rights, while La Liga was half that, at €1,426.
From CVC to the Superliga, the great project of Florentino Pérez
A difference that Javier Tebas is trying to shorten by associating with the investment fund CVC, another point that has united Barça and Madrid. The two greats have gone again for free and have not joined the initiative promoted by the League: the white team refused to enter the LaLiga Impulso project, so that it will continue to enter 100% of the television rights in the coming years , while Barça opted for the offer of another venture capital fund, Sixth Street, to whom it sold 25% of the television rights over the next 25 years in exchange for 667.5 million euros between income and capital gains. The operation with the American supplier was designed by Anas Laghrari, chief financial advisor of Florentino, through the firm Key Capital. He didn’t work for free.
The white president also gave a hand to Joan Laporta by showing support for the amendment presented to the new sports law to eliminate the 15% guarantee of the budget for the clubs, which allowed the the current board of directors of the Barcelona club should not endorse, with its assets, a guarantee worth 125 million euros. Also economic is the motivation of the two clubs to promote the European Super League, a project that, according to its promoters, would provide a payment of 3.5 billion euros for the founding clubs. The close relationship between the offices of the two clubs does not end here: Legends is a partner of Real Madrid in the operation of the new Santiago Bernabéu and will advise the Barcelona club in the marketing of Espai Barça. The two entities have also come together to start a legal battle to be able to exploit the brand commercially The Classicwhich the League recorded in 2017. Barça and Madrid, two enemies on the grass who hug each other in the offices to protect themselves.