The French Professional Football League (LFP) announced this Friday that it had opened exclusive negotiations with the CVC investment fund for the creation of a commercial company that would allow it to sell its rights.
With the payment of 1,500 million euros, CVC will have 13% of that company, which will be valued at around 11,500 millionaccording to the agreement unanimously adopted by the Board of Directors of the LFP, indicated in a statement.
It is somewhat less than what CVC has proposed to the Spanish league, with which it negotiates 10% of the rights in exchange for almost 2,000 million euros, or to the Italian, where the figure amounts to 1,700 million euros.
The French Parliament changed the law at the end of last February to allow the creation of this commercial exploitation company essentially dedicated to managing the television rights of French clubs.
The LFP had four offers on the table: CVC, Hellman&Friedman, Oaktree and Silver Lake, but has finally opted for the first.
French football urgently needs liquidityafter the poor state in which the finances of most of its clubs were left after the Spanish group Mediapro broke the league’s broadcast contract at the end of 2020. Added to this is the lack of income caused by the pandemic.
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