The Spanish league took a step toward cutting into the Premier League’s global dominance on Wednesday, securing €2.7 billion ($3.2 billion) in funding to boost its clubs’ finances and increase revenue growth over the next few years.

The Spanish league took a step toward cutting into the Premier League’s global dominance on Wednesday, securing €2.7 billion ($3.2 billion) in funding to boost its clubs’ finances and increase revenue growth over the next few years.