APRIL 1, 2006
CVC buys Allsport
As we exclusively predicted some months ago CVC Capital Partners has acquired Allsport Management SA and the business undertaken by the related firm Allsopp Parker & Marsh. The deal is dependent on the necessary anit-trust clearances. Allsport sells advertising and sponsorship packages globally in respect of the FIA Formula 1 World Championship by way of Allsop Parker & Marsh, and a runs the VIP Paddock Club operation at Grands Prix. Patrick McNally will remain as the chief executive of Allsport Management.
The deal is believed to be worth around $350m and means that all of the revenues coming into F1 are now consolidated into one company.
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