CVC Launches £9 Billion Sports Portfolio Refinancing

CVC Capital Partners has launched a £9 billion ($12 billion) refinancing of its global sports portfolio by forming a new entity, SportsCo, and appointing Goldman Sachs, PJT Partners, and Raine Group as advisers. SportsCo will manage CVC's stakes in Six Nations and Premiership Rugby, top-tier French and Spanish football, international volleyball, the Women's Tennis Association, and Indian Premier League cricket. The refinancing aims to raise new debt and could lead to a minority stake sale or initial public offering. The strategy seeks to maximize commercial value through media and sponsorship rights, leveraging the industry trend of growing broadcasting revenues. This move follows CVC’s profitable exit from Formula 1 and comes amid challenges such as broadcast issues in French football. Marc Allera, former BT Sport chair, will lead SportsCo, with further executive hires expected.