July 18, 2024

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Soccer-France’s Ligue 1 lands four binding bids for media rights deal – sources

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Soccer-France’s Ligue 1 lands four binding bids for media rights deal – sources

By Pamela Barbaglia

LONDON, March 9 (Reuters)4 buyout money have created binding bids for a slice of the media legal rights company of France’s prime-flight soccer league as the race to support the country’s funds-strapped clubs with a vital lifeline enters the remaining phases, sources told Reuters.

CVC Funds Associates, Silver Lake, Hellman & Friedman and Oaktree Funds have all submitted rival bids forward of a March 9 deadline, a few sources said, speaking on condition of anonymity.

A last-ditch endeavor by European non-public equity company BC Associates to workforce up with Oaktree fell by, with BC Associates going for walks away from the auction, they reported.

French soccer governing physique Ligue de Soccer Professionnel (LFP) kicked off a procedure very last calendar year to promote a minority stake in a recently created business that will market the Television set and on the web broadcast rights for Ligue 1 property to prime gamers like Paris St Germain’s Lionel Messi and Kylian Mbappe.

The bids benefit a stake of 10{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494} to 15{cf07cd047201b183b19c0b335dbd7d35a498f84568531c8abe8643bd3ccfd494} in surplus of 1.5 billion euros ($1.64 billion), with the last quantity hinging on the degree of governance handle that the LFP will grant, the resources said.

CVC, Silver Lake, Hellman & Friedman and BC Companions declined to remark when the LFP and Oaktree were not quickly readily available.

The LFP aims to wrap up the stake sale immediately after the French presidential election – which usually takes location on April 10 and might last until finally April 24 in the celebration of a runoff – and could invite the four contenders to an further spherical of bidding to give them a remaining likelihood to boost their proposals, the sources added.

The sale, led by Lazard LAZ.N and Centerview Companions, is the hottest move by a European league to faucet into personal fairness as football clubs struggle to recuperate from the fallout of the COVID-19 pandemic just after currently being strike difficult by vacant or reduced potential stadiums.

It arrives at a time when quite a few heavyweight buyout cash have turned to sports deals to deploy funds, with Silver Lake using a minority stake in December in the Australian Skilled League (APL), which operates that country’s top rated-flight men’s and women’s soccer leagues.

Silver Lake, which also backs the owners of Manchester Metropolis, is viewed as a powerful contender for the French league offer but will experience hard competitors from Hellman & Friedman and CVC, the sources reported.

Very last 12 months, CVC struck a 1.994 billion euro expenditure in the broadcasting and sponsorship rights linked to Spain’s LaLiga.

($1 = .9173 euros)

(Reporting by Pamela Barbaglia, more reporting by Elvira Pollina Enhancing by Ken Ferris)

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