CVC Capital Partners have invested in volleyball with the launch of Volleyball World, in partnership with the International Volleyball Federation (FIVB).
Volleyball World will become the commercial entity for the sport around the world, aiming to drive ‘innovation, growth and investment’.
The news will see FIVB, together with its 222 National Federations, remain the sole, global volleyball regulatory body with responsibility for the sport and its development. As the majority shareholder in Volleyball World, FIVB will oversee the new commercial vision for volleyball while ensuring the interests of all stakeholders are represented.
According to FIVB, the new entity will be responsible for the commercial operation of volleyball and beach volleyball international events, including the World Championships, Olympic Qualifiers and the Volleyball Nations League. The partnership will also focus on other areas such as event hosting, fan experience, media, data and digital opportunities, and sponsorship.
The pair have announced that Finn Taylor, who previously headed up Cirque du Soleil’s Global Touring show business, will become CEO of Volleyball World, with former FIVB Secretary General, Fernando Lima becoming Chair the Board.
Other Board members will include current FIVB General Director Fabio Azevedo and Founder and Former CEO, DAZN Group, Simon Denyer.
“We are delighted to partner with CVC to launch Volleyball World,” said Ary Graca, President, FIVB.
“The FIVB is committed to constantly innovating while searching for opportunities that can sustain the development of the sport around the world. In CVC we are confident we have found a partner with the experience, network and capital to support FIVB in its mission to further professionalise the sport for the benefit of fans, players and National Federations.
“Volleyball World will boost our sport’s financial growth and deliver lasting legacies for the whole game. Working in partnership with CVC we will be able to secure volleyball’s future and emerge stronger from the current challenges.”
CVC Capital Partners Head of Sports, Media and Entertainment, Nick Clarry added: “Volleyball is one of the most popular sports in the world and there is a huge untapped fan base and commercial potential.
“FIVB & CVC working together at Volleyball World, will drive innovation and greater fan engagement, which will accelerate growth and allow for substantial reinvestment back into the sport.
“We are delighted to be partnering with FIVB and look forward to working closely together to develop the sport globally, working collaboratively with all the players, leagues and federations in the years to come.”
The move marks CVC’s latest investment in sport, adding volleyball to other current investments including Rugby, Formula 1, and Moto GP.