Private equity giant CVC Capital is seeking new investment opportunities in the global sports market, including stakes in the Six Nations Championship, top European football leagues, and women’s tennis. Goldman Sachs and other advisers are helping package these assets for refinancing, with the overall business valued at over £10bn.

CVC is eyeing investment from Gulf sovereign wealth funds or other buyout specialists for its sports portfolio. The firm’s success in Formula 1 has spurred confidence in rugby and football ventures, despite challenges in club ownership structures. CVC’s £1.3bn stake in France’s football league has faced difficulties, including a contentious TV rights deal and corruption allegations.

SportsCo, a new umbrella company, aims to capitalize on the growing global interest in sports and allow CVC to refinance its portfolio while retaining control beyond typical private equity terms. The firm plans to make senior appointments in sports leagues and coordinate TV rights discussions in a changing market with new players like Netflix and Apple.

Private equity firms are facing challenges in returning cash to investors due to higher debt costs and lower valuations. CVC’s move to create SportsCo reflects a broader trend in the industry to find innovative ways to deliver returns on investments. CVC declined to comment on the matter.

Read more at Yahoo Finance: Six Nations rugby courts Gulf sovereign wealth