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‘CVC throws over an offer for Six Nations’
Posted on Thursday, 14 March 2019 09:14
CVC Capital Partners is close to catching another rugby group as media reports suggest it has kicked off nice pun a bid for a stake in the Six Nations, the Northern Hemisphere's premier rugby competition.
Among those to comment on the potential deal was the Times, which said the private equity firm is making a move to increase ownership of rugby union by picking up a 30.0 per cent stake in the target for GBP 500.00 million.
The offer was reportedly submitted at the start of this week and comes as Six Nation’s is holding talks with World Rugby in Dublin tomorrow to discuss plans for a new 12-team global competition.
CVC also has its hand on Premiership Rugby, the commercial arm of the Gallagher Premiership, after buying a 27.0 per cent holding for GBP 200.00 million last year.
The RTE cited a report by the Press Association Sport that a Six Nations source said a deal with the private equity group is one of several options being considered to help launch a project that will bring in all the teams in the tournament to pool commercial revenue.
According to the Times, England, Ireland, Scotland, Wales, Italy and France have been discussing plans to bring together their broadcasting rights and other investment options with the Nations Championship of World Rugby also said to be in the loop.
However, if a sale to CVC goes ahead, media reports, including one by BBC Sport, suggested it would end the chances of this other deal happening.
The Six Nations Championship is an annual international rugby union competition, which was formed out of the Home Nations Championship between the countries in the UK between 1883 and 1939.
Its current champions are Ireland who won their 14th title in 2018.
According to Zephyr, the M&A database published by Bureau van Dijk, there were 138 deals targeting spectator sports announced worldwide in 2018.
The largest of these involved KSE UK acquired the remaining stake it did not own in UK-based professional football club Arsenal Holdings for GBP 602.00 million.
Other targets have included Jiangsu Suning Sports Industry, the Sunderland Association Football Club, Football Club Des Girondins de Bordeaux and Esforce Holding.
© Zephus Ltd