CVC Capital Partners is an equity firm held talks with football’s worldwide administrating committee FIFA on acquiring rights to redone Club World Cup, which is a tournament of top continental teams. The report by Financial Times also stated that CVC is talking over the funding of the event in a deal that will give it television rights, which can then be sold to broadcasters for viewing worldwide. The Club World Cup is an event that currently has seven teams and is hosted every December, but in 2021, it will have 24 teams and will have its first edition in China. This was opposed by European clubs, who claimed that there is no place for expanded events in international calendars. According to the report, the bid for commercial rights to Club World Cup, which was done by many corporates, will be announced this week. Real Madrid president Florentino Perez approached CVC executives with a proposition of creating a rival annual competition wherein the top clubs from around the world will be participating. The report also included another proposition that was being considered, which would have two leagues of 20 teams each, with eight teams being the founding members of the World Football Club Association. This is not CVC’s first try into sports. Rather, they have owned Formula One from 2006-2017 and also expressed interest previously in MotoGP. CVC is also currently investing in rugby union and owns a minority stake of about £200 million and also has a stake in Pro14 of about £120 million.