400 million offer

400 million offer: This is how the FIS reacts to accusations

Mikaela Shiffrin (left) and Marco Schwarz (right) do not approve of FIS President Johan Eliasch's (center) latest solo effort.

(Bild: GEPA)

An allegedly rejected investor offer of 400 million euros to the International Ski and Snowboard Federation FIS continues to cause a stir. Following a letter of protest from a number of top athletes and top international officials at the weekend, the FIS and its President Johan Eliasch have now taken a stand on the matter. The signatories of the letter had been deceived, said Eliasch.

The Luxembourg financial investor CVC is said to have offered the FIS on November 30th to purchase 400 million euros from the FIS and to take over the central marketing of media and sponsorship rights together with the individual winter sports federations. The FIS is said to have rejected the offer, as reported by the Swiss newspaper "Blick".

Parts of the skiing world reacted indignantly in a letter to the world federation: among the signatories of the letter were stars such as Mikaela Shiffrin, Marco Odermatt, Manuel Feller and Lucas Pinheiro Braathen as well as head skiers Alexis Pinturault and Lara Gut-Behrami. Ten FIS Council members, including one from Austria - Michael Huber, the long-standing President of the Kitzbühel Ski Club - also signed.

FIS feels "well capitalized"
 The letter suggests that CVC's offer was rejected without proper consideration because the FIS is already working with the company Infront to centralize international media rights, the world federation has now announced. "This claim is false," the FIS now said. "CVC's proposal had nothing to do with the centralization of media and broadcasting rights," it continued. "It was an investment proposal for the creation of a joint venture to manage all commercial rights related to FIS and its member federations." The ongoing process with Infront would not stand in the way of such a collaboration.

FIS boss Johan Eliasch

(Bild: Birbaumer Christof/GEPA)

The FIS does not want to have "rejected" CVC's proposal. However, it has outlined that it is currently "well capitalized" and does not require additional funds to implement its strategic plan. The CVC draft did not contain any significant details, nor did it include an increase in prize money. At a meeting with FIS President Eliasch on Monday, CVC representatives admitted "that they had not reviewed the strategic plan or the financial structure of FIS".

CVC is one of the largest private equity firms in the world and invests in global sports such as Formula 1 and tennis. It is rumored that CVC is demanding 20 percent of the broadcasting rights to FIS competitions in return. "We need details," said Eliasch in an Ö1 "Mittagsjournal" report. In order to implement what CVC is demanding, a long examination is needed, said the British billionaire. According to him, the athletes' letter is based on misleading information. He knows many athletes personally and most of them have been deceived with incorrect information and now realize this, according to Eliasch.

ÖSV takes legal action against FIS
The FIS, she continued, "remains committed to initiatives that are in line with its strategic vision and promote the long-term growth and success of winter sports". Some doubt this. According to the SZ, the protest letter from athletes and officials to the FIS spoke of a "noticeable lack of progress".

Eliasch, who was elected FIS President in 2021, is highly controversial and centralized marketing is one of his major goals. Until now, each federation has decided on the international media rights for events in their own country. The Austrian Ski Association (ÖSV) is currently even taking legal action against the plans. No FIS representative was present at an initial hearing at the Vienna Higher Regional Court at the end of November. Johan Eliasch himself has been summoned for the next hearing in January.