Real Madrid and Barcelona united on Thursday to criticise La Liga’s agreement to sell 10 percent of its business to private equity firm CVC Capital Partners for 2.7 billion euros ($3.2 billion). The deal, the first of its type by a major European league, values La Liga at 24.2 billion euros.

La Liga will, however, retain the management of TV rights.

“This agreement was reached without the involvement or knowledge of Real Madrid and today, for the first time, La Liga has given us limited access to the terms of the agreement,” said Real in a statement.

Barcelona, still reeling from the news that Lionel Messi will quit the club after 20 years, said the plan “has not been sufficiently discussed with the clubs (the owners of the TV rights).

“The deal affects part of all clubs’ audiovisual rights for the next 50 years,” they said in a statement.

“FC Barcelona feels it is inappropriate to sign a half-century agreement given the uncertainties that always surround the football world.”

Read more/Source: The Street Journal