CVC Restructures Sports Empire: Pimco and KKR Inject €4.85 Billion into GSG
LONDON – Private equity giant CVC Capital Partners has finalized a massive capital injection for its specialized subsidiary, Global Sport Group (GSG). As of February 18, 2026, the group has secured a total of €4.85 billion in combined debt and equity, a move that reinforces its position as the world’s most powerful sports investment vehicle.
The restructuring involves two major global players: the asset management titan Pimco and the investment firm KKR, both anchoring a deal that values GSG’s portfolio at approximately $14 billion (€11.63 billion).
Financial Breakdown: The €4.85 Billion Deal
The capital structure was overhauled to provide GSG with long-term flexibility and immediate liquidity for new acquisitions:
- Senior Debt Refinancing (€2.35 Billion): Anchored by Pimco, which manages roughly $2 trillion in assets. This senior debt allows CVC to hold its current sports assets for a longer duration.
- Equity & Junior Debt Investment (€1.6 Billion): KKR has entered as a minority shareholder, investing across the capital structure. This follows KKR’s recent $1.4 billion acquisition of sports-focused firm Arctos Partners earlier this month.
- Junior Debt (€900 Million): An additional layer of junior debt was secured to complete the €3.25 billion total refinancing package managed alongside Pimco.
A Growing “Super-Portfolio”
Created in September 2025 to centralize CVC’s sporting interests, Global Sport Group is led by Chairman Marc Allera (former CEO of UK telecom EE). The fund’s current holdings include some of the most prestigious properties in world sports:
- Football: Stakes in LaLiga (Spain) and Ligue 1 (France) media rights.
- Rugby: Significant holdings in the Six Nations, Premiership Rugby, and the United Rugby Championship.
- Tennis & Volleyball: Majority interests in WTA Ventures (Women’s Tennis) and Volleyball World.
- New Addition: The group recently completed its first solo league acquisition, buying the U.S.-based Equine Network for $300 million in January 2026.
Why This Matters
This influx of capital marks a “new era” for sports M&A. With a war chest of nearly €5 billion, GSG is expected to target U.S. sports leagues and elite tennis tournaments next. The deal also serves as a defensive move against rivals like Apollo Global Management, which recently launched its own $6 billion sports fund and acquired a majority stake in Atlético de Madrid.