Private equity firms plan to update proposal for Serie A’s media unit
A private equity consortium has told Serie A it plans to present an updated proposal to buy a stake in the media business of Italy’s top soccer league as it remained interested in a deal, three sources said on Thursday. Serie A agreed in October to enter exclusive talks after a consortium including CVC Capital […]
CVC cash will be ‘transformational’ for Scottish rugby
The private equity firm is understood to be close to buying 14.5 per cent of the commercial rights in the tournament as part of a five-year agreement. The value of the deal is estimated at around £350 million, with Scotland’s share reckoned to be worth £50m. The impact on the Six Nations Rugby will also be […]
Sports retailer Fanatics enters China via JV with Hillhouse Capital
Fanatics Inc, the world’s biggest licensed sports merchandise retailer, said on Thursday it is expanding into China through a joint venture with local private equity firm Hillhouse Capital Group, as the SoftBank-backed e-commerce platform mulls a potential public listing later this year. The move by Jacksonville, Florida-based Fanatics, whose annual revenue tops $3 billion, is […]
German Soccer League Said to Kick Off Private Equity Stake Sale
Germany’s elite soccer body will invite bids for a minority stake in its overseas media rights and private equity firms are circling, according to people familiar with the matter. Advent International and BC Partners are two private equity firms that have already reached out to Bundesliga International about acquiring a stake, Bloomberg has reported previously. […]
Seven Serie A clubs move to block €1.7bn CVC deal
Serie A’s €1.7 billion (US$2 billion) private equity deal with CVC, Advent and FSI could be about to collapse as seven of Italian soccer’s most powerful top-flight clubs are set to block the investment, according to Reuters. A letter signed by seven clubs – including Juventus, Inter Milan and Lazio – said they no longer […]
NBA franchises get green light to sell 30% of shares to private equity firms
Basketball league’s board sets limit at 20% stake per institutional investor, reports Sportico. The National Basketball Association (NBA) has moved closer to a framework for allowing private equity investors to own minority stakes in multiple franchises, according to a report by Sportico. The report says the NBA’s board of governors has agreed that private equity […]
Private equity’s new bet on sport: buy the league
Firms are looking beyond clubs to governing bodies and competitions but the investments risk alienating fans. When the All Blacks next take to the rugby field to perform the prematch haka, a ceremonial dance invoking New Zealand’s ancient Maori culture, they will do so in a battle for sporting glory — while also, perhaps, pursuing […]
Private capital’s rush into the business of sport
Institutional investors see long-term opportunities from short-term disruption, but there are risks The most prominent sports transaction of 2020 — the $2.4bn sale of baseball’s New York Mets to hedge fund manager Steve Cohen — was both a record sum for a North American franchise and, according to money managers and sport industry executives, perhaps […]
