Prolific sports investor CVC Capital Partners has bagged the Ahmedabad franchisee of the Indian Premier League for Rs. 5,600 crores.
However, this isn’t its first. Earlier this year, CVC landed its biggest sports deal yet where it paid €2.7 billion (about $3.2 billion) for a minority stake in La Liga, Spain’s top-flight soccer league.
CVC will boast of a 10% stake in a newly formed company controlling the league’s commercial activities. This was Luxembour-based CVC’s third attempt to acquire a stake in a premier European soccer league. Last year, the firm joined Advent International and Italian state investor FSI to pay €1.7 billion for a 10% stake in the media rights of Serie A, Italy’s premier soccer league, but negotiations stalled after several clubs moved to block the deal. It was also reported to be seeking a stake in Bundesliga before the German league pulled the plug on the sales process.
CVC Capital Partners List of Sports Investments
Exited investments
Dorna Sports (1998)
CVC acquired the company that organizes the MotoGP motorcycle-racing series via an $80 million LBO in 1998. CVC exited to Bridgepoint Advisers in 2006.
Formula One (2005)
The motorsports giant was acquired by CVC for $1.71 billion in 2005. The firm exited the business in 2017.
Current and pending investments
Premiership Rugby (2018)
CVC paid £200 million for 27% of the top tier of the English club rugby union.
Pro14 Rugby (2020)
CVC paid £120 million for a 28% stake in the company behind the annual rugby tournament.
Six Nations Rugby (2021)
The rugby tournament had €365 million in development capital from CVC.
Volleyball World (2020)
The company was formed by CVC and the International Volleyball Federation. The firm invested $300 million.
La Liga (2021)
CVC is to pay €2.7 billion for a stake in the Spanish league.
IPL ( 2021)
CVC to pay Rs. 5,600 crores for Ahmedabad franchisee
Canceled and rumored investments
Serie A (2020)
A consortium including CVC and Advent was set to pay €1.7 billion for a 10% stake in the top Italian league’s media rights; the deal has since been put on ice.
New Zealand Rugby (2021)
CVC was in talks for a stake in the company behind dominant men’s rugby team the All Blacks, but was beaten by PE rivals Silver Lake.
Bundesliga (2021)
CVC was reported to be among a group of PE firm vying for a stake in the premier German soccer league, but talks ended with no deal in May.
San Antonio Spurs (2021)
CVC was in talks to acquire a 15% stake in the basketball team at a $1.3 billion valuation; Sixth Street ended up buying a 30% stake.
One Tennis (2021)
In June, it was reported that CVC was in talks to make a $600 million investment in a new $4 billion global tennis group.
