CVC Capital Partners to Refinance £9 Billion Sports Portfolio with Goldman Sachs, PJT Partners and Raine Group.

CVC Capital Partners has initiated a refinancing of its £9 billion sports assets portfolio, hiring Goldman Sachs, PJT Partners, and The Raine Group to advise on the deal. The move aims to raise new debt, allowing CVC to remain invested in its sports holdings and potentially paving the way for a minority stake sale or initial public offering.

CVC Capital Partners has embarked on a significant financial maneuver by initiating a refinancing plan for its £9 billion portfolio of sports assets. The private equity giant has enlisted Goldman Sachs, PJT Partners, and The Raine Group to advise on the deal, which aims to raise new debt to support its extensive holdings in various sports sectors, including rugby, football, and tennis [1].

The move is part of CVC's broader strategy to optimize its investments in the sports sector. By raising new debt, CVC aims to extend its investment horizon in the sports portfolio while potentially exploring options for selling a minority stake or pursuing an initial public offering (IPO) [1]. The creation of SportsCo, a new entity designed to provide cohesive support to CVC's sports investments, is a key aspect of this strategy [1].

The financial restructuring comes at a time when global investor interest in sports has surged, driven by the potential for significant returns and growth opportunities. CVC's investments in sports properties, such as Formula One and various European football leagues, have already yielded substantial profits, boosting the firm's confidence in further ventures [2].

However, the complexity of club ownership and governance structures in sports competitions has posed challenges for CVC. For instance, its investment in the Ligue de Football Professionnel in France faced significant hurdles, including disputes over television rights and allegations of corruption [2]. Despite these challenges, CVC's overall strategy appears to be focused on leveraging its extensive network and expertise to maximize the commercial potential of its sports assets.

The refinancing plan is also aligned with broader market trends, as private equity firms increasingly adopt a more risk-on stance to buying and focus on growth opportunities. Goldman Sachs, in a recent report, highlighted the growing interest in continuation vehicles and structured equity deals, which allow private equity firms to stay invested in assets while delivering opportunistic liquidity to investors [3].

As CVC navigates this financial restructuring, the firm is expected to continue its strategic approach to sports investments, seeking to capitalize on the growing global interest in sports and the potential for significant returns. The successful completion of this refinancing plan could pave the way for further investments and growth in the sports sector.

References:
[1] https://news.sky.com/story/cvc-kicks-off-refinancing-plan-for-9bn-portfolio-of-sports-assets-13398789
[2] https://uk.finance.yahoo.com/news/six-nations-rugby-courts-gulf-124716082.html
[3] https://www.bloomberg.com/news/newsletters/2025-07-18/goldman-sachs-sees-m-a-in-foothills-of-five-to-seven-year-recovery