French soccer's ruling body seals CVC investment deal

PARIS : LFP, the ruling body of French soccer, confirmed on Friday an investment deal with private equity firm CVC Capital Partners and added it had also set up a new commercial subsidiary.

Last month, CVC acquired a 13per cent stake worth 1.5 billion euros ($1.65 billion) in the media rights business of France's Ligue 1, the top flight division that hosts clubs such as Paris Saint Germain (PSG), Olympique Marseille and Lyon.

(Reporting by Sudip Kar-Gupta; Editing by Jon Boyle)