CVC plans sports portfolio refinance

CVC Capital Partners has initiated a refinancing plan for its sports portfolio through a new vehicle named SportsCo, securing advisory services from Goldman Sachs, PJT Partners, and Raine Group in preparation for the move.

CVC’s portfolio spans stakes in Six Nations Rugby, Premiership Rugby, the Women’s Tennis Association, International Volleyball, Gujarat Titans cricket team, and media rights in Spanish and French football, collectively valued at over £9 billion, according to Sky Sports.

While the sports businesses will continue operating independently, they will benefit from shared operational synergies, such as combined sponsorship sales and data services, under SportsCo’s structure.

This strategy aligns with a wider trend of private equity firms consolidating sports assets to tap into broadcasting and sponsorship revenues amid a growing market for live sport investment.

The move follows CVC’s profitable exit from Formula 1 in 2016, and reflects its continued prominence in the industry, despite challenges in some portfolio areas like French football’s broadcast issues and Premiership Rugby’s pandemic recovery.

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