FIS statement on CVC proposal and subsequent letter

On Friday, December 6, FIS received a letter signed by some members of the FIS Council, representatives of National Ski Associations (NSAs), and several high-profile athletes. The letter, which has since been circulated in the media, suggested that FIS dismissed a compelling offer from CVC for the media rights of ski and snowboard competitions without proper consideration due to the centralization process of international broadcast and media rights with Infront. This claim is false. 

CVC’s proposal was unrelated to the centralization of media and broadcast rights. It was an investment proposal for the creation of a joint venture to manage all commercial rights associated with FIS and its member federations. FIS’s ongoing centralization process with Infront for international media and broadcast rights would not conflict with such a collaboration with private equity; in fact, it could enhance its effectiveness. 

FIS did not reject CVC’s proposal. Instead, FIS outlined the following: 

Capital Needs: 

If raising capital becomes necessary, FIS would engage a financial advisor to conduct a transparent process, ensuring the best possible terms. Currently, FIS is well-capitalized and does not require additional funding to execute its strategic plan. However, FIS will continue to review its investment plans to determine if further financing could improve or innovate its offerings. 

Proposal Details: 

The CVC outline lacked essential details, including valuation, strategic plans, and governance frameworks. Contrary to speculation, it also did not include an increase in prize money. 

In a meeting yesterday between FIS President Johan Eliasch and CVC representatives, CVC stated that they had not reviewed FIS’s strategic plan or financial structure. 

FIS remains committed to initiatives that align with its strategic vision, fostering the long-term growth and success of snow sports.