CVC Capital puts in for Soccer Media Rights in France

Private equity firm CVC Capital Partners is in exclusive talks with France’s top soccer organization for a 13% stake worth $1.7 billion in a new entity that will hold its media rights. 

A deal would value the Ligue de Football Professionnel, which oversees Ligue 1 and Ligue 2, at $12.7 billion nearly two years after it took out a $253.3 million loan when its broadcast partner MediaPro stopped making payments on its rights deal worth $877.9 million per year. 

Last December, Ligue 1 was valued between $10 billion and $14 billion, making the league’s media rights a hot commodity for potential investors. 

• Earlier this month, Silver Lake, Oaktree Capital, Hellman & Friedman, and CVC submitted binding bids for the stake, according to Reuters.
• Reports stated that Bain Capital, Advent International, and French private equity firms Adrian and BPI also submitted offers. 

Bridgepoint Group, Apollo Global Management, EQT Partners, and KKR & Co. were also reportedly interested in bidding as well, though it’s unclear if they did.