Blue Owl Close to Buying Stake in CVC

    • Blue Owl is nearing the purchase of a stake in CVC Capital Partners in a tie-up of private equity firms with sports interests.
    • CVC could be preparing to go public.

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Two of the biggest private equity names in sports are coming together: Blue Owl is close to buying a stake in CVC Capital Partners.

The deal for a roughly 10% stake values CVC at around $15 billion, per Bloomberg. 

Blue Owl was formed in May through a SPAC merger that brought together Owl Rock and Dyal Capital Partners. The companies collectively had $52.5 billion in assets under management as of March 31. 

Blue Owl and CVC have been among the most aggressive private equity firms investing in sports.

  • Dyal, which has a deal with the NBA allowing it to purchase minority stakes in multiple teams, owns a stake in the Phoenix Suns through its Dyal HomeCourt fund. It was recently in talks to buy a stake in the Sacramento Kings. 
  • CVC recently secured a 10% stake in La Liga’s core revenue-generating properties for $3.2 billion. CVC also has investments in the United Rugby Championship, Six Nations Rugby, and International Volleyball Federation.
  • Blue Owl owns a stake in Silver Lake, which has investments in Manchester City owner City Football Group, Madison Square Garden, and Endeavor. Silver Lake is seeking player approval on an investment in New Zealand rugby club All Blacks.

The potential stake sale to Blue Owl could preview another big move. According to Bloomberg, CVC may be preparing to go public through an IPO.