KKR, the American asset management behemoth, is in detailed talks about a multibillion pound deal to take a stake in the sports investment vehicle which owns stakes in Six Nations Rugby, women’s professional tennis and the top flights of French and Spanish men’s football.
Sky News has learnt that KKR has emerged as the leading candidate to spearhead a roughly €2.75bn (£2.4bn) transaction that would see it become a shareholder in CVC Capital Partners’ Global Sport Group (GSG).
City sources said that KKR was in advanced negotiations about a deal, although other parties, including Ares Management, remained in the frame to participate.
The alternative of a debt-only financing for GSG has also been explored in recent weeks.
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A deal involving KKR would underline the ambitions of GSG to become the most sophisticated global investor in elite sports teams, leagues and other related properties.
KKR recently agreed to acquire Arctos Partners, a sports-focused private equity firm, for about $1bn, reinforcing burgeoning investor appetite in the sector.
News of KKR’s advanced interest in a stake in GSG comes on the same day that the CVC-backed vehicle confirmed its acquisition of Equine Network, the largest for-profit equestrian sports league in the US – which was revealed by Sky News last weekend.
Announcing the deal on Wednesday, Gemma Wright, a partner in CVC’s sports, media and entertainment team, said: “The creation of Global Sport Group was driven by our conviction that premium sports leagues benefit from long-term, specialist ownership and collaboration.
“CVC’s investment experience in sports spans over twenty years and, while much has changed in that time, sports IP remains a very attractive opportunity in which we continue to see significant potential for further innovation and growth.”
GSG, which is chaired by Marc Allera, the former BT Group consumer chief, also owns stakes in Premiership Rugby and…
