CVC delays £300m Six Nations investment – report

The delay is due to a financial crisis in the sport as a result of the spread of the coronavirus. It is still possible that the deal completes this year, but it is unclear whether the terms of the transaction will remain unchanged, according to the report.

The Six Nations said that discussions are ongoing and are taking the pandemic into account. Neither a break in negotiations nor a push to complete the deal has been agreed upon, the organisation said.

In March 2019, Six Nations received a £500m bid from CVC for a 30% stake, while in February 2020 the FT reported the firm was expected to acquire a 14% stake for £300m.

CVC has shown interest in various rugby tournaments over the past two years. In December 2018, CVC acquired a 27% shareholding in the Gallagher Premiership's commercial arm Premiership Rugby for £220m. The firm also entered into discussions with the Pro14 tournament in March 2019 and is expected to pay £120m for a stake in the company.

The firm is currently investing from its CVC Capital Partners VII fund, which closed on €15.5bn in June 2017.

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• CVC Capital Partners
• United Kingdom
• coronavirus