Key Takeaways
- Sector: Leisure.
- Geography: United Kingdom.
Analysis
CVC Capital Partners is preparing a major refinancing of its international sports portfolio through the launch of a new entity, SportsCo, which could carry a valuation of more than €10.5 billion (approximately £9 billion). Goldman Sachs, PJT Partners, and Raine Group have been appointed to advise on the deal’s structure and execution.
The new vehicle will consolidate a range of high-profile sports investments under a single capital structure. While the underlying assets will remain operationally independent, CVC aims to drive strategic coordination across platforms—sharing best practices, streamlining commercial strategies, and exploring cross-platform media and sponsorship opportunities.
CVC’s portfolio spans commercial rights in Six Nations Rugby, the Women’s Tennis Association, and the international volleyball federation. It also holds a minority stake in the Gujarat Titans (IPL), and has invested around €3.5 billion in La Liga and Ligue 1 broadcasting and sponsorship rights.
The SportsCo initiative comes as many of these assets recover from pandemic-era disruptions. Premiership Rugby in England, which lost several clubs during COVID-19, has stabilized, while Ligue 1 is reforming after a failed media rights auction, launching a direct-to-consumer streaming service and updating its governance structure.
CVC has a long track record in sports, including successful past investments in MotoGP and Formula 1, the latter sold to Liberty Media in 2016 for over $8 billion. The refinancing via SportsCo will offer greater capital flexibility and open pathways for third-party co-investment or future monetization.
This strategy follows a broader trend in the private equity space:
- Silver Lake took Endeavor private for $13 billion and consolidated assets like IMG, On Location, and Professional Bull Riders into TKO Group, valued at $3.25 billion.
- RedBird Capital acquired AC Milan for $1.2 billion and also holds stakes in Fenway Sports Group and the Rajasthan Royals.
- Sixth Street invested in Legends Hospitality, bought a 20% stake in the San Antonio Spurs, and entered European football media via FC Barcelona.
- Arctos Sports Partners raised a $4.1 billion fund focused exclusively on sports franchises.
These moves show how PE firms are evolving their approach—creating multi-asset platforms, capturing media value, and building long-term commercial ecosystems. With assets offering stable cash flows, high fan engagement, and scalable monetization, sports are increasingly viewed as a resilient and profitable asset class.
SportsCo positions CVC to lead this shift, aligning its diverse holdings under a cohesive structure designed for growth, flexibility, and investment scale.