The Spanish Football Association, Real Federación Española de Fútbol, has joined a lawsuit led by Barcelona, Real Madrid, and Athletic Bilbao that opposes a deal between La Liga and CVC Capital Partners.

CVC struck a deal worth roughly $2.3 billion last year to assist with La Liga’s pandemic-related financial struggles.

• The equity firm would receive a reported 8.2% stake of the league’s new media company in charge of managing media rights — La Liga Impulso — over a 50-year period.
• CVC has admitted that the firm is likely to sell within the next 10 years.

Barcelona, Real Madrid, and Athletic Bilbao filed a lawsuit against the deal shortly after it received approval from 37 of the league’s 42 teams in December. The teams called the deal “ruinous” for Spanish football and presented an alternative plan for funding that they said would be “15 times cheaper” ahead of the vote.

RFEF has now joined the three clubs “to prevent Spanish football from being conditioned for the next 50 years.” The governing body emphasized that the league and private equity firm were the only beneficiaries of the deal.

Season of CVC

CVC Capital isn’t only focused on La Liga. The firm, Advent International, and Italy’s FSI Fund, agreed to a similar $2 billion deal for a 10% stake in Italy’s Serie A’s media unit. The league’s board unanimously approved the deal in November. Bundesliga blocked a deal in May that would have given CVC and other firms a 25% stake in its media rights.

Digital fitness company Future announced a $75 million Series C funding round on Thursday led by private equity firms SC.Holdings and Trustbridge Partners.

A service that pairs members with fitness coaches and tracks workouts through an Apple Watch, Future has raised more than $110 million in total funding. Users pay $149 each month for unlimited access to their coach, averaging four texts per day.

The round includes Kevin Durant’s Thirty Five Ventures, Philadelphia 76ers and New Jersey Devils owner Harris Blitzer Entertainment, Fabletics cofounder Kate Hudson, golfer Rory McIlroy, and Arizona Cardinals’ defensive end J.J. Watt as investors. 

• The capital will be used toward advertising and hiring full-time trainers.
• Future is reportedly looking at expanding into stress management and nutrition.

The company says it has one of the largest trainer networks in the U.S.

Fitness of the Future

Kate Hudson and her brother Oliver, who is also an investor in the round, will host a podcast discussing health, wellness, and fitness, as opposed to recording workout videos, to promote the brand. The podcast adds to the list of fitness companies expanding into wellness.

Hyperice, a company known for its recovery and movement technology, acquired mental wellness company Core last year, while Peloton, known for its workout equipment, launched stretching and meditation classes on Delta Airlines.

Editor’s note: SC.Holdings is an investor in FOS.

The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, is taking its investments in video game companies to the next level with the purchase of a combined holding worth more than $1 billion in gaming firms Capcom and Nexon.

The PIF, which has $480 billion in assets under management, disclosed it has acquired a more than 5% stake in each of the Japan-based companies. 

The fund purchased a stake in Capcom, the studio behind the “Street Fighter” franchise worth roughly $332 million, according to Friday’s share price, while its stake in online games provider Nexon is worth about $883 million.

Headed by Crown Prince Mohammed, the PIF has a growing list of gaming-related investments. 

• The fund has 5.6 million Take-Two Interactive shares worth roughly $996 million.
• It has 14.2 million Electronic Arts shares worth $1.9 billion.
• The fund has 37.9 million Activision Blizzard shares worth more than $3 billion. 

The PIF has been aggressive about investing in gaming. In January, Savvy Gaming Group — fully backed by the fund — purchased esports tournament and league operators ESL and FACEIT for a combined $1.5 billion.

Staying Busy 

Earlier this week, The Asian Tour announced an increased investment by LIV Golf Investments, an investment entity backed by the PIF. To date, LIV has invested $300 million in the tour.

The PIF has also invested in McLaren, acquired the Premier League’s Newcastle, and is reportedly nearing a deal to purchase Serie A’s Inter Milan for $1 billion.