Real Madrid have initiated criminal and civil proceedings against La Liga president Javier Tebas over the competition's new deal with private equity firm CVC.

La Liga announced last week it has reached agreement to sell a 10% stake in the league to the Luxembourg-based firm for €2.7 billion.

The deal would ensure a cash windfall for clubs, many of whom have suffered significant losses during the coronavirus pandemic.

Spain's two biggest clubs, Real and Barcelona, are however unhappy about the value of the proposed "long-term" deal and have complained about a lack of consultation.

It has also been reported that, to access funds from it, Real and Barca would need to formally renounce interest in the breakaway European Super League, something they have not yet done despite the collapse of the controversial project earlier this year.

In a statement on their official website, the Spanish club said: "At its meeting today at 11am, the Real Madrid CF Board of Directors unanimously agreed to initiate both civil and criminal legal action against the La Liga President, Mr Javier Tebas Medrano, Mr Javier de Jaime Guijarro, head of the CVC Fund, and against the CVC Capital Partners SICAV-FIS Fund itself.

"In addition, the Board of Directors has resolved to take any legal action it considers appropriate to annul and render ineffective any possible resolutions adopted by the La Liga Assembly, due to be held on 12 August 2021, in relation to the agreement between La Liga and the CVC Fund."

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