Private equity firm Advent International is reportedly considering purchasing a stake in a media rights company being formed by France’s Ligue de Football Professionnel.
Advent is apparently among a number of investors interested as the league searches for a financial partner. The LFP presented the project to clubs this week, and discussions among the teams about whether to go forward will take place until mid-January.
The league would be looking for an investment of around $1.7 billion for 10% of the media company.
- The discussions come after France’s National Assembly voted to allow professional sports leagues to create commercial entities and sell stakes to external investors in March.
- Leagues will be required to control at least 80% of voting and economic rights in the entities.
The LFP has weathered a number of recent financial struggles. Ligue 1, for example, is missing income from its terminated $1.2 billion per-year broadcasting deal with Mediapro.
Last October, Italy’s Serie A agreed to enter exclusive talks with a consortium including Advent International to purchase a 10% stake in the league’s new media business division for $2 billion.
The Serie A deal had been repeatedly postponed as it needs approval from at least 14 of the league’s 20 teams. The discussions were revived in September.
