The FIS says no to 400 million euros. A company from Luxembourg wants to invest in the marketing of all FIS sports, but the federation has no need for the offer.
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- The FIS has rejected an investment offer of 400 million euros.
- The Luxembourg-based company CVC wanted to invest in the marketing of all FIS sports.
- According to the FIS, the offer came too late and important information was missing. A contract was negotiated with Infront in July 2023.
FIS President Johan Eliasch wants to take skiing to the next level. Among other things, a step forward is to be made in terms of prize money. And this project requires, self-explanatory: money.
As reported by "Blick", the FIS has received an investment offer of 400 million euros. The financial company Captial Partners (CVC) from Luxembourg is submitting a deal to Eliasch and Co. With "Project Snow", CVC wants to invest in the marketing of all FIS sports.
Experienced in sports marketing
CVC is anything but a blank slate in the world of sports marketing. The company has already invested in the top football leagues in France and Spain and held a majority stake in Formula 1 from 2006 to 2012.
Now CVC wants to expand its portfolio. To this end, the company is contacting the FIS by letter. "Blick" is said to have received the letter, which is dated November 30, 2024. The apparent wording: "CVC is proposing to invest in a 20% stake in the commercial rights to snow sports. These funds can be used by FIS and all national ski federations to invest sustainably in the sport: In events, teams and future commercial growth."
CVC would work with FIS to agree the phasing of the investment. It would also determine "how the proceeds would be used for investment to support the business plan, investment with the national federations and FIS, and investment in athletes and other projects". All parties would continue to receive distributions from the sale of commercial rights. The intended goal during the partnership: significant growth.
Offer comes too late for FIS
Growth or not: FIS rejects the offer. The FIS had not responded to the proposal as detailed information was lacking. No timetable, no governance framework, no information on what CVC would bring in. In addition, the International Ski Federation is facing a collaboration with marketer Infront. In July 2023, the two parties agreed on a contract for eight seasons starting in 2026/2027.
CVC's interest comes too late, according to the FIS in its reply to CVC, which "Blick" is also said to have received. It goes on to say: "The FIS is very well capitalized and currently has no need for additional funds to implement its strategic plans."
