The operation should take effect by the end of July, before the start of the future Ligue 1 and Ligue 2 season, according to the Professional Football League (LFP).
The latter announced on Friday that it had signed a "firm investment commitment agreement" with the CVC fund for the creation, in the off-season, of a commercial subsidiary in which the Luxembourg company will hold 13% against 1.5 billion. euros.
The General Assembly of the LFP, bringing together professional clubs and football families (coaches, players, referees, etc.) “unanimously approved the creation of the commercial subsidiary and the firm investment commitment by CVC”, according to this press release.
It is a question of “supporting the development of the entire ecosystem of French football”, explains the League.
Creation of the commercial subsidiary of the @LFPfr
Signature of the firm investment commitment agreement of CVC Capital Partners, new partner of the LFP in the capital of the commercial subsidiary
Press release 📝➡️ https://t.co/qFwLSJ4s3q pic .twitter.com/wJGW3k4Gqg
— Professional Football League (@LFPfr) April 1, 2022
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Considered vital by the clubs, severely affected by the health crisis and that of TV rights, the creation of a commercial company will allow the teams to receive a windfall of welcome fresh money, in return for a participation by CVC up to 13 % of the capital of this new structure, responsible in particular for better promoting the audiovisual rights of French football.
PSG will receive 200 million euros
The Ligue 1 and Ligue 2 clubs had agreed in recent days on the distribution of this windfall: Paris SG will receive the largest share (200 million euros), ahead of Marseille and Lyon who will receive 90 million each.
Nice, Rennes, Lille and Monaco will get 80 million in the operation and the other L1 clubs around 33 million each.
“Another part [of the investment] will be intended for amateur football, the repayment of the PGE [loan guaranteed by the State] contracted by the LFP in 2020, the constitution of a reserve fund and the initiation of the commercial subsidiary in order to give it the means to achieve its ambitions”, explains the LFP.
The creation of the commercial subsidiary was made possible by the vote in Parliament of the sports law on February 24, providing a legislative framework adapted to its project.
Based in Luxembourg, CVC Capital Partners is one of the most active investment funds in recent years in a sports world constantly looking for investors.
Along with announced forays into the Spanish Liga and Italian Serie A, the company has pumped 400 million euros into the Six Nations Rugby Tournament, having held the majority stake in the Formula 1 championship from 2006 to 2016.
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