Luxembourg-based investment giant CVC Capital Partners is backing a major overhaul of France’s Ligue 1, aiming to transform it into a Premier League-style, club-owned structure.
France’s top-tier football is poised for a dramatic transformation with the creation of a new commercial entity designed to mirror the successful, club-owned model of the English Premier League. At the heart of this initiative is CVC Capital Partners, the private equity firm headquartered in Luxembourg, whose growing footprint in global sports continues to shape the commercial future of elite competitions.
French football is facing a deepening financial crisis as broadcaster DAZN seeks to exit its €400 million-a-year Ligue 1 deal amid poor subscriber numbers.
Projections published by the LFP’s National Control and Management Directorate (DNCG) suggest clubs in France’s top two divisions are expected to post combined losses of €1.2 billion.
The newly proposed commercial entity, unveiled by Philippe Diallo, President of the French Football Federation (FFF), would replace the current Ligue de Football Professionnel (LFP) with a fully commercialised league body jointly owned by clubs, the FFF, and CVC.
CVC’s Expanding Sports Empire
The transformation builds upon CVC’s €1.5 billion investment in 2022, which gave the fund a 13% stake in LFP Media, the subsidiary created to manage Ligue 1’s media rights and commercial operations. The move provided France’s professional clubs with immediate liquidity, while committing a share of future broadcasting revenues to CVC.
“This aims to lay the foundation for a rebound of our professional clubs […]”
A pioneer in sport-focused investment, CVC Capital Partners first entered the spotlight through its ownership of Formula 1 between 2006 and 2016, a tenure marked by major revenue growth and global expansion. Since then, the firm has extended its influence to rugby (Six Nations), tennis (WTA commercial rights), MMA, and volleyball.
In football, CVC has played a central role in similar restructuring efforts. In Spain, it partnered with La Liga through a deal worth nearly €2 billion, acquiring a stake in its new commercial entity. These moves reflect a clear strategy: inject capital into under-leveraged sports assets, modernise governance models, and unlock long-term value through media and digital growth.
Private Equity’s Role in Global Football
With over €122 billion in assets under management and $165 billion in committed funds, CVC ranks among the world’s ten largest private equity firms. Its Luxembourg base serves as a strategic hub for global investments.
The proposed Ligue 1 revamp, set for legislative review by the French Senate on June 10, would consolidate commercial control under the new entity, while preserving regulatory oversight via FFF veto powers on competition rules. If approved, the framework aims to enhance transparency, improve financial health, and provide France’s clubs with the commercial tools needed to compete with the likes of England, Germany, and Spain.
“This aims to lay the foundation for a rebound of our professional clubs within a more efficient and transparent framework,” Diallo said, highlighting the ambition to position Ligue 1 on a stronger global footing.
As European football increasingly turns to private capital for reinvention, CVC’s deep involvement and Luxembourg-based operations position it as a key architect of the sport’s next era.
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