Ligue 1: Four bids made for French league’s TV rights before deadline

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Andrew Feinberg

White House Correspondent

Four private equity companies have reportedly submitted bids for a minority stake in the selling of Ligue 1’s media rights.

Reuters reports that all of CVC Capital Partners, Silver Lake, Oaktree Capital and Hellman & Friedman have bid.

The deadline for bidding was 9 March, though the report claims that Ligue de Football Professionnel (LFP) could order an extra round of bidding in the hope of improved proposals.

With Ligue 1’s clubs struggling with the financial impact of the pandemic, capital investment has been seen as a likely step for the LFP.

The French football governing body opened a process last year that will see the organisation form a minority company to market the television and online broadcast rights to the top French league - the winning bidder will then take a minority stake in that newly-former company.

Reuters states that the bids value a 10-to-15% stake at more than 1.5 billion euros (£1.25 billion).

A number of sporting entities have welcomed capital investment in recent years, particularly after the revenue impacts caused by Covid.

CVC concluded a deal last year with La Liga to invest close to to 2 billion euros (£1.7bn) in the top two Spanish divisions’ broadcasting and sponsorship rights, an agreement objected to by Barcelona, Real Madrid and Athletic Bilbao.

The London-based capital investment firm, whose headquarters is in Luxembourg, are also heavy players in Northern Hemisphere rugby, taking a stake in the Six Nations, Gallagher Premiership and United Rugby Championship (URC).

Silver Lake, meanwhile, are also said to be leading contenders to take the stake in Ligue 1 - the American industry giants have a stake in Manchester City and are close to sealing a deal with the All Blacks.

Of the other bidders, Oaktree Capital already have some involvement in French football. The Los Angeles-based firm secured a controlling stake in SM Caen in the summer of 2020. The Normandy club are currently 13th in Ligue 2.

Additional reporting by Reuters