November 7 - Office Work (6 hours)

This day i focused on finding the reasons behinf the invetsments of capital funds in sport. In recent years alone, the British fund CVC Capital Partners has bought 14 per cent of the shares of the Six Nations rugby tournament for between 350 and 425 million euros, while RedBird Capital Partners has bought 10 per cent of Fenway Sports Group, a company valued at over 6 billion dollars which, among other things, controls the Boston Red Sox in baseball and the Liverpool football team (among the investors gathered in RedBird Capital Partners there is also LeBron James). The same fund that bought the minority shares in the Six Nations has been negotiating its entry as partner in the management of the media company that should deal with the marketing of the Serie A championship for some time. Together with two other funds, CVC offered 1 billion and 700 million euros for 10 percent of the shares. In New Zealand, on the other hand, the national association of men and women players recently opposed the ongoing negotiations between New Zealand Rugby, the body that governs New Zealand professional rugby, and the US fund Silver Lake, which is offering 276 million euros to buy 15 percent in the form of commercial rights. The investments do not only concern tournaments and federal bodies, but also clubs. The list of teams controlled by investment funds is getting longer and longer. In Italy, Milan has been owned by the US fund Elliott since 2018, which controls the club at 95.73 percent. Elliott also has interests in another European team, Lille, which was foreclosed on insolvency by the old owners last December and entrusted to new management. Also in Italy, in Milan, Inter is also looking for a minority shareholder, with a good chance that it will be a fund.