The sale is subject to the confirmation of financing and to the approval of the European antitrust authorities. Under the terms of the deal Advent International, a private equity fund, and RTL Group will set up a new company that will purchase all the shares of Sportfive held by RTL Group (46.4 per cent) and Canal+ Group (46.4 per cent).

Advent International is expected to hold 75 per cent of the new company and RTL Group the remaining 25 per cent. Canal+ will withdraw from Sportfive entirely.

Jean-Claude Darmon the founder of Sportfive will continue as its chairman and CEO. Negotiations are proceeding with the acquirers to set the level of the stake that Darmon will hold.