CVC Capital Partners recently made a €400 million ($423 million) offer for a 20% stake in the commercial rights to snow sports. However, the International Ski and Snowboard Federation (FIS) has outright rejected this proposal.

The rejection indicates FIS's stance on maintaining control over its commercial rights. This decision reflects the federation's strategy to manage its assets independently, despite the significant financial backing offered by CVC.

CVC's interest highlights the growing appeal of snow sports in the investment community. The firm’s proposal suggests a belief in the potential for lucrative returns from this sector.

FIS's firm response may signal its commitment to exploring other avenues for growth and partnerships. The federation likely aims to enhance its brand and revenue streams without external influence.

Overall, the interaction between CVC and FIS underscores the complexities of investment in sports rights. It also illustrates the challenges private equity firms face when seeking to enter established sports markets.