Former EE chief Allera joins team at CVC sports empire
Sky News has learnt that Marc Allera, who stepped down as the boss of BT Group's consumer business earlier this year, has been appointed chairman of CVC SportsCo, a new entity aimed at providing more cohesive support to the buyout firm CVC Capital Partners' investments across the sector.
The establishment of the new operating and investment group concept comes as CVC, the Amsterdam-listed private equity group, continues to diversify its sporting asset base.
Money latest:
Having made billions of dollars from its ownership of Formula One motor racing - one of the most lucrative deals in the history of sport - CVC has bought stakes in leagues and other assets spanning cricket, football, rugby union, tennis and volleyball over the last two decades.
Its investment in the media rights to La Liga - Spain's equivalent of the Premier League - is expected to generate a handsome return for the firm, although a comparable deal in France has faced significant challenges amid broadcasters' financial challenges in the country.
CVC's backing of global sports properties is intended to position it to maximise their commercial potential through new media and sponsorship rights deals, as well as their expansion into new formats aimed at drawing wider audiences amid rapid shifts in media consumption.
In rugby union, its acquisition of a stake in Premiership Rugby's commercial rights was hit by the pandemic and the subsequent financial pressures on clubs which saw a number of the league's teams forced into insolvency.
Sky News revealed earlier this year that CVC had extended further support to Newcastle Falcons as part of a broader financial package aimed at paving the way for the team's sale.
Red Bull is reported to be the acquirer of Newcastle Falcons, with a deal expected imminently.
CVC, which bought into Premiership Rugby in 2019, owns a 27% stake in the league.
Under its stewardship, broadcast audiences and attendances have turned a corner, with total TV audiences up 40% this year - partly as a result of an increase in the number of games being shown.
It recently agreed a more lucrative TV rights deal for the league.
Sponsorship revenues are also said to have nearly doubled since CVC's initial investment, with fan interest among the crucial 18-34 age demographic rising by 30% during the last year.
Its SportsCo strategy will see Mr Allera, who also chaired BT Sport, working across the CVC sports portfolio, with other executives expected to be recruited to assist the effort in due course.
One source likened the initiative to the approach employed by the luxury goods conglomerate LVMH.
They added that there would be parallels with the sharing of best practice used at US basketball's NBA through its TeamBusinessOperations (TeamBO) unit to unlock collective opportunities and drive further long-term growth projects.
CVC's sporting assets will continue to remain autonomous and independent of one another, the source said.
One expected benefit of the SportsCo approach would be the sourcing of new investment opportunities in future years, with another likely to mean CVC remaining a stakeholder in its existing portfolio for a longer duration.
The firm was recently outbid in an auction of major tennis tournaments by Ari Emanuel, the Endeavor founder whose company was also the seller of the assets.
Global sports properties have become one of the hottest growth areas for private capital in recent years, with firms such as Ares Management, Silver Lake Partners and Bridgepoint all investing substantial sums in teams, leagues and other assets across the industry.
Mr Allera already has connections to CVC as chairman of JagEx, the mobile gaming business it bought last year, and as a broader adviser to the private equity firm.
He spent nine years running BT's consumer arm following its acquisition of EE.
CVC declined to comment on Wednesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
32 minutes ago
- Yahoo
Swiss-listed shares in Comet slump after chip equipment group cuts annual outlook
- Swiss-listed shares of Comet shed more than 19% of their value on Thursday, after semiconductor equipment group slashed its full-year guidance and flagged that it will not see a second-half rebound in sales at its key plasma control technology division. Comet develops and manufactures components and systems like radio frequency-based generators, capacitors and other gear that are mainly used in the chipmaking industry. Its x-ray modules are utilized to inspect manufactured items, such as in the automotive and electronics industries, as well as in luggage and cargo inspection at airports. In its half-year update, Comet flagged the impact of an "increasingly volatile macroeconomic environment" and geopolitical uncertainty, although it said strong demand for artificial intelligence and high-end computing helped to underpin the semiconductor industry at the end of the first half of 2025. Still, chip volumes in sectors like autos and consumer electronics continue to "show signs of weakness," Comet warned. "As a broader market recovery remains pending, a rebound in volumes in plasma control technologies is not expected in the second half of 2025," Comet said, referring to a segment accounted for much of group-wide revenue in the first half. Its other x-ray units were hit by weak-end markets, as consumers ratcheted in spending because of concerns over tariffs, Comet said. The firm warned that the "short-term outlook is less optimistic than anticipated earlier in the year," but said it will continue to pursue introducing new products and improve efficiency to respond to wider "challenges." Against this backdrop, Comet lowered its guidance for full-year net sales to between CHF 460 million to CHF 500 million, down from a prior forecast of CHF 480 million to CHF 520 million. Core earnings margin is also seen at 10%-14%, versus 17%-20% previously. "Hence, using the mid points of its newly introduced guidance suggests significant downside to fsical year 2025 consensus earnings per share estimates," analysts at UBS said in a note. For its first half, group sales came in at CHF 227 million, implying growth of 20% compared to a year earlier, while reported core income was CHF 21 million. Both metrics fell short of consensus expectations, UBS noted. Related articles Swiss-listed shares in Comet slump after chip equipment group cuts annual outlook Apollo economist warns: AI bubble now bigger than 1990s tech mania If Powell goes, does Fed trust go with him? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Strategy's Market Hints at Strongest Downside Risk Since April
As shares in Nasdaq-listed Strategy (MSTR) continue to lose ground, demand for downside protection in the bitcoin-holding company has reached its strongest in months. On Wednesday, the one-year put-call skew —the difference in implied volatility between call and put options expiring in 12 months —rose to 3.6%, the highest since April 17, according to data source Market Chameleon. In other words, the demand for put options, which offer protection against price losses, relative to calls, is now strongest in over three months. AI's take A rising put-call IV spread means that the implied volatility of put options (which profit if the stock price falls) is increasing much faster, or is significantly higher, than the implied volatility of call options (which profit if the stock price rises). This suggests that options traders are willing to pay a much higher premium for downside protection or are betting more aggressively on a decline in MSTR's stock price. It reflects a growing apprehension or outright bearish sentiment among options traders regarding MSTR's future performance over the next year. They are pricing in a higher probability of a significant drop in the stock. A put option gives the purchaser the right, but not the obligation, to sell the underlying asset, MSTR, at a predetermined price on or before a later date. A put buyer is implicitly bearish on the market, while a call buyer is bullish. MSTR is the largest publicly listed bitcoin holder in the world, boasting a coin stash of 628,791 BTC ($74.7 billion). The company has been aggressively buying BTC as a balance sheet asset for five years in a trend-setting move for corporates around the world. However, its stock price has been struggling lately. MSTR has dropped by over 14% to $392 in two weeks, closing just below the 50-day simple moving average (SMA) on Wednesday. CORRECT (July 31, 08:30 UTC): Corrects company name to Strategy throughout. An earlier version of this story used it former name, MicroStrategy. Replaces lead image. Sign in to access your portfolio
Business Upturn
2 hours ago
- Business Upturn
ArcelorMittal publishes its 2025 half-year report
1 August 2025, 19.30 CET ArcelorMittal (the 'Company') has today published its half-year report for the six-month period ended 30 June 2025. Advertisement The report is available on under Investors > Financial reports > Half-year reports, and on the electronic database of the Luxembourg Stock Exchange ( The report has also been filed on Form 6-K with the U.S. Securities and Exchange Commission (SEC) and is available on under Investors > Financial reports > SEC filings. ENDS About ArcelorMittal ArcelorMittal is one of the world's leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS). Contacts: ArcelorMittal Investor Relations General +44 20 7543 1128 Sustainability +44 203 214 2490 Bonds/Credit +33 157 955 035 E-mail [email protected] ArcelorMittal Corporate Communications Paul Weigh +44 20 3214 2419 E-mail: [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
