Goldman Sachs will contribute a 1 billion euro syndicated ($1.17 billion) loan to private equity firm CVC’s planned 2.7 bln euro investment in Spain’s top football league, LaLiga, two sources familiar with the matter said on Wednesday.

Online newspaper El Confidencial first reported Goldman’s involvement in the proposed deal, which is due to be voted on by LaLiga’s member clubs on Thursday and which has drawn fierce opposition from Real Madrid and FC Barcelona.

The league said last week that the deal, called “Boost La Liga”, would strengthen clubs and give them funds to spend on new infrastructure and modernisation projects as well as increasing how much they can spend on players’ salaries.

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Source: Reuters