The former boss of mobile phone network EE is taking on a powerful new role at the heart of a sports portfolio which includes interests in Six Nations Rugby, Spanish top-flight football and the women’s global tennis tour.
Sky News has learnt that Marc Allera, who stepped down as the boss of BT Group’s consumer business earlier this year, has been appointed chairman of CVC SportsCo, a new entity aimed at providing more cohesive support to the buyout firm CVC Capital Partners’ investments across the sector.
The establishment of the new operating and investment group concept comes as CVC, the Amsterdam-listed private equity group, continues to diversify its sporting asset base.
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Having made billions of dollars from its ownership of Formula One motor racing – one of the most lucrative deals in the history of sport – CVC has bought stakes in leagues and other assets spanning cricket, football, rugby union, tennis and volleyball over the last two decades.
Its investment in the media rights to La Liga – Spain’s equivalent of the Premier League – is expected to generate a handsome return for the firm, although a comparable deal in France has faced significant challenges amid broadcasters’ financial challenges in the country.
CVC’s backing of global sports properties is intended to position it to maximise their commercial potential through new media and sponsorship rights deals, as well as their expansion into new formats aimed at drawing wider audiences amid rapid shifts in media consumption.
In rugby union, its acquisition of a stake in Premiership Rugby’s commercial rights was hit by the pandemic and the subsequent financial pressures on clubs which saw a number of the league’s teams forced into insolvency.
Sky News revealed earlier this year that CVC had extended further support to Newcastle Falcons as part of a broader financial package aimed at paving the way for the team’s sale.
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