Madrid, Barcelona present alternative league investment plan

MADRID (AP) — Real Madrid, Barcelona and Athletic Bilbao have presented an alternative scheme to the Spanish league’s own future investment plan. The clubs refused to participate the league’s scheme with private equity firm CVC to inject $3.2 billion into Spanish soccer. The three clubs did not specify the source of the proposed investment they claim will bring in the same financing at better conditions. But the league says the alternative scheme proposed a plan funded by JP Morgan, Bank of America and HSBC banks. The league put into doubt both the involvement of the banks and the figures provided by the clubs.