France’s soccer governing body, Ligue de Football Professionnel, announced it would sell a stake in marketing broadcast rights for Ligue 1 in 2021. Several bids are reportedly in now.
Silver Lake, Hellman & Friedman, Oaktree Capital, and CVC Capital Partners have all submitted binding bids prior to Wednesday’s deadline, according to Reuters. BC Partners reportedly tried to team up with Oaktree, but the deal didn’t materialize and BC Partners exited the bidding.
- The stake in the media rights, which would only be about 10% to 15%, is valued at $1.64 billion.
- In December, the league itself was valued between $10 billion and $14 billion, according to Sports Business Journal.
The bids are the latest in a list of European leagues and teams looking to private equity funding to help with COVID-19 financial shortfalls.
French soccer’s attempts to rake in more cash go beyond Ligue 1’s recent moves, however.
On Wednesday, a report surfaced that French club Lyon is for sale.
Raine Group will manage the sale for the club’s two majority stakeholders. Film equipment and production company Pathé currently owns 33.53% of shares, while IDG Capital owns 19.96%.