CVC’s £300m Six Nations deal in peril - report
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The deal to sell a 15% stake in the Six Nations to the private equity company CVC is being held up according to a report by Paul Rees in The Guardian.
According to the report, the home unions are insistent that the tournament should remain live on terrestrial television. Talks over the £300m agreement are in the final stages but the issue of broadcast rights remains a key sticking point between the two sides.
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The outcome could hinge on whether the two sides can compromise on a hybrid package involving one match per round being screened on subscription television.
CVC, which has bought a 27% stake in the Premiership and the Guinness Pro14 for £320m, approached the Six Nations last year and the two parties started an exclusive period of negotiation in September. As part of its offer CVC wants control of the tournament’s commercial arm and the right to arrange the next broadcasting deal.
The current agreement with BBC and ITV, which is worth £90m a year, ends in 2022 and the tender process for the new contract is due to start this month, although the talks with CVC may still be continuing then. For CVC, broadcasting holds the difference between a healthy return on the £300m investment.
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