Tuesday, February 7, 2023

Ligue 1 signs CEOs from six countries to lead new company with CVC

Ligue 1 signed talents from six countries. Benjamin Morrell, the CEO of rugby’s Six Nations, has been appointed CEO of the new commercial company of the French Professional Football League (LFP, for its acronym in French).

rugby league announced in November that Morell would be leaving the organization at the end of the 2022–2023 season after five years with the organization., Morel got his start in the sports field in 1998, when he began his career as a manager in the NBA. sales of leagues in Europe, Africa and the Middle East (EMA). In 2011 he was promoted to Vice President of Competition in Europe and in 2012 he was promoted to NBA General Manager at Emmys.

Morel will take up his new position at the LFP in the spring. His appointment comes after LFP secured investment from private equity firm CVC Capital Partners to set up its new commercial subsidiary in 2022. sports business,

In March last year, the clubs in French football’s top competition unanimously approved the sale of a 13% stake in their new commercial subsidiary to a British fund €1.5 billion And in July they agreed to form a new entity designed to “replace” France as a major football league.

Ligue 1 seeks to “replace” France as a major football league

Morel will oversee the operations of the unit, which will be headed by LFP President Vincent Labrunne. The LFP assured that the partnership reflects Ligue 1’s change towards an entertainment-focused business model focused on developing the league’s brand, allowing clubs to create their own franchises and developing cross-platform content. .

During his time in Six Nations rugby, Morel saw a period of rapid turnaround for the organization, which also signed an agreement with the CVC. In March 2021, CVC paid 365 million pounds (426 million euros) through Fund VII for a 14.28% stake in Six Nations Rugby, the owner and organizer of the Six Nations tournament and the Autumn International.

Morell stressed, “I will work closely with all clubs and all other LFP stakeholders to deliver a high-quality and innovative sporting spectacle, putting our global fans at the center of this new approach.”

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news