Global Sport Group (GSG), the investment vehicle backed by private equity giant CVC Capital Partners, has formally begun a major process to raise €2.7bn (£2.3bn) in debt, Sky News can reveal.
A War Chest for Global Sports Dominance
The debt-raising initiative, which kicked off with formal talks with investors on Monday 12 January 2026, is designed to provide significant financial firepower for further acquisitions. The goal is to assemble the world's most compelling portfolio of sports-related assets. The process is being overseen by banking titan Goldman Sachs.
This debt deal is running in parallel with separate discussions involving potential providers of equity capital to GSG. Sources indicate that these talks include blue-chip investment firms such as Ares Management and Bain Capital. Among the debt funders engaged is HPS, the global private credit giant which is a subsidiary of asset management behemoth BlackRock.
Building a Diverse Sports Empire
GSG, chaired by former BT Group consumer chief Marc Allera, already holds a diverse and valuable array of sports interests. Its portfolio includes:
- A minority stake in the Six Nations Rugby Championship.
- Interests in the women's professional tennis tour (WTA).
- A 27% stake in Premiership Rugby's commercial rights.
- Investments in the top football leagues of France (Ligue de Football Professionnel) and Spain (La Liga).
- A stake in an Indian Premier League (IPL) cricket franchise.
- Holdings in international volleyball.
The new capital is squarely aimed at acquiring additional assets in sports with strong commercial growth potential. This strategy could see CVC, which made billions from its ownership of Formula One, bid for one of the new European NBA basketball franchises set to be sold in the coming months.
Strategic Implications and Future Plans
Once completed, the refinancing deal will enable CVC to remain invested in its sports portfolio for a longer period. It also paves the way for a future sale of a minority stake in GSG or even an initial public offering (IPO) on a major international stock exchange. Advisors on the deal include Goldman Sachs, PJT Partners, and Raine Group.
CVC's overarching strategy is to maximise the commercial potential of its sports properties. This involves securing new media and sponsorship rights deals and expanding into formats designed to attract wider audiences in an era of rapidly shifting media consumption.
The firm's investments have seen mixed fortunes; its stake in La Liga's media rights is expected to be highly lucrative, while a comparable deal in France has faced challenges due to broadcaster financial pressures. Similarly, its Premiership Rugby investment was impacted by the pandemic and subsequent club insolvencies.
Despite the new umbrella holding entity, GSG's individual sports assets will continue to operate autonomously. The move underscores the intense competition among private capital firms like Silver Lake Partners and Bridgepoint to invest in global sports properties, which are now seen as one of the hottest growth areas.
CVC Capital Partners declined to comment on the reports.
