Private equity fund CVC Capital has acquired a 13% stake worth €1.5bn in Ligue 1’s media rights business, French soccer’s governing body (LFP) said on Thursday.

LFP said last week it had entered into exclusive negotiations with CVC to sell a minority stake in a newly created company that will market the television and online broadcast rights for Ligue 1.

French soccer suffered a blow last year after the collapse of Spanish media rights agency Mediapro, which was supposed to pay 1.2 billion euros a year to broadcast Ligue 1 matches.

Last year, CVC struck a 1.994 billion euro investment in the broadcasting and sponsorship rights connected to Spain’s LaLiga, marking the first investment agreement from a private equity firm in a major European League.

Read more: News18