The majority of Spanish league clubs approved a deal with an investment fund worth up to 2.7 billion euros (£2.3 billion) on Thursday – despite opposition from Real Madrid and Barcelona.
The league said 38 of the 42 clubs from the first and second divisions in Spain voted in favor of the deal with private equity firm CVC, which is intended to boost the clubs' finances and help the league cut into the Premier League's global dominance.
The league and CVC gave the four clubs who voted against the deal the option to opt out, meaning they would not benefit from the new funds and would not relinquish a percentage of their future revenues.