4 Firms Submit Bids for Partial Media Rights to Ligue 1
France’s soccer governing human body, Ligue de Soccer Professionnel, announced it would promote a stake in promoting broadcast rights for Ligue 1 in 2021. Several bids are reportedly in now.
Silver Lake, Hellman & Friedman, Oaktree Money, and CVC Cash Associates have all submitted binding bids prior to Wednesday’s deadline, in accordance to Reuters. BC Associates reportedly tried using to group up with Oaktree, but the deal did not materialize and BC Partners exited the bidding.
- The stake in the media legal rights, which would only be about 10{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494} to 15{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494}, is valued at $1.64 billion.
- In December, the league alone was valued between $10 billion and $14 billion, in accordance to Athletics Business enterprise Journal.
The bids are the most current in a list of European leagues and groups on the lookout to non-public equity funding to help with COVID-19 monetary shortfalls.
Pending Sale
French soccer’s attempts to rake in much more dollars go beyond Ligue 1’s recent moves, nevertheless.
On Wednesday, a report surfaced that French club Lyon is for sale.
Raine Group will manage the sale for the club’s two bulk stakeholders. Film gear and generation firm Pathé now owns 33.53{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494} of shares, although IDG Capital owns 19.96{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494}.
