A division of Blackrock, the world’s biggest asset manager, is in talks to provide hundreds of millions of pounds of funding to a company which owns stakes in Six Nations Rugby and the women’s professional tennis tour.

Sky News has learnt that HPS, the global private credit giant, is among the parties negotiating with CVC Capital Partners over the financing of its Global Sports Group (GSG) holding company.

The talks, which are not exclusive, would see HPS help provide firepower for the CVC-backed vehicle to make further acquisitions to expand its portfolio.

Chaired by Marc Allera, the former BT Group consumer boss, GSG holds stakes in Premiership Rugby, the top flights of French and Spanish football and the international volleyball tour.

In recent weeks, Mr Allera has outlined his ambitions to acquire further global sports properties.

HPS, which was acquired by Blackrock for $12bn late last year, is said to be serious about becoming involved in GSG.

Other parties with whom CVC is in discussions include Ares Management, which is interested in providing both debt and equity to GSG, according to insiders.

Any new financing package was expected to be secured on favourable terms for the CVC-controlled group because of the underlying credit quality of the assets in the portfolio.

Sky News revealed during the summer that CVC had engaged a trio of banks to explore plans for a refinancing of what was at the time referred to internally as SportsCo and which has since been renamed Global Sport Group.

The portfolio also includes an Indian Premier League cricket franchise, several of which are currently exploring sales at valuations of well over $1bn.

Goldman Sachs, PJT Partners and Raine Group are advising on the refinancing of GSG, which has been set up to optimise CVC’s investments in the sector.

The deal is expected to allow CVC to remain invested in its sports portfolio for longer, while also paving the way for the sale of a minority stake in SportsCo or a future initial public offering.

Having made billions of dollars from its ownership of Formula One motor racing – one of the most lucrative deals in the history of sport – CVC has bought stakes in leagues and other assets spanning a spectrum of elite sporting assets over the last two decades.

Its investment in the media rights to La Liga – Spain’s equivalent of the Premier League – is expected to generate a handsome return for the firm, although a comparable deal in France has faced significant challenges amid broadcasters’ financial challenges in the country.

CVC’s backing of global sports properties is intended to position it to maximise their commercial potential through new media and sponsorship rights deals, as well as their expansion into new formats aimed at drawing wider audiences amid rapid shifts in media consumption.

In rugby union, its acquisition of a stake in Premiership Rugby’s commercial rights was hit by the pandemic and the subsequent financial pressures on clubs which saw a number of the league’s teams forced into insolvency.

CVC, which bought into Premiership Rugby in 2019, owns a 27% stake in the league.

Its sporting assets will continue to remain autonomous and independent of one another, despite the new umbrella holding entity.

One expected benefit of the SportsCo approach would be the sourcing of new investment opportunities, with CVC being linked to a bid for one of the new European NBA basketball franchises which is expected to be sold in the coming months.

Global sports properties have become one of the hottest growth areas for private capital in recent years, with firms such as Ares, Silver Lake Partners and Bridgepoint all investing substantial sums in teams, leagues and other assets across the industry.

CVC and Blackrock declined to comment.

Indiana quarterback Fernando Mendoza, who led the No. 1 Hoosiers to a perfect 13-0 record and their first Big Ten title since 1967, captured the 91st Heisman Trophy on Saturday night.

Mendoza beat out quarterbacks Diego Pavia (Vanderbilt) and Julian Sayin (Ohio State) and running back Jeremiyah Love (Notre Dame) to take home the trophy during a ceremony in New York.

Mendoza, who played two seasons at California before joining the Hoosiers this season, completed 71.5% of his pass attempts for 2,980 yards with 39 total touchdowns.

He was only the second Heisman Trophy finalist from Indiana. Running back Anthony Thompson was runner-up to Houston quarterback Andre Ware in one of the closest votes in 1989.

With Mendoza, Pavia and Love expected to move on to the NFL after this season, who are the top returning Heisman Trophy candidates for 2026?

In compiling the list of potential candidates, I projected that quarterbacks John Mateer (Oklahoma), Ty Simpson (Alabama) and Dante Moore (Oregon); receivers Carnell Tate (Ohio State), Zachariah Branch (Georgia) and Makai Lemon (USC); and running back Emmett Johnson (Nebraska) will turn pro (along with the aforementioned finalists from this year).

Here is a look at some of the top potential contenders (in no particular order):

2025 stats: 80 catches, 1,086 receiving yards, 12 total touchdowns

Smith’s highlight reel of acrobatic, one-handed catches continues to grow, and he arguably has been the best player in college football this season. He was the fastest Buckeyes player to reach career marks of 2,000 receiving yards (24 games), 100 catches (20) and 25 touchdown receptions (25).

2025 stats: 78.4% completion pct, 3,323 passing yards, 31 touchdowns, 6 interceptions

Sayin might have captured the Heisman Trophy this season if Ohio State’s offense hadn’t flopped in its 13-10 loss to Indiana in the Big Ten championship game. In his first season as a starter, Sayin is on pace to break the NCAA single-season pass completion record of 77.4%, set by Oregon’s Bo Nix in 2023.

2025 stats: 70.7% completion pct, 2,691 passing yards, 442 rushing yards, 31 total touchdowns

In his first full season as Georgia’s starting quarterback, Stockton helped guide the Bulldogs to a 12-1 record and SEC title. His legs and right arm were a big reason the Bulldogs averaged 31.9 points, despite enduring myriad injuries on the offensive line. Stockton was at his best when the game was on the line — he completed 86% of his passes with 11 touchdowns and one interception in the fourth quarter against ranked opponents.

2025 stats: 84 receptions, 970 receiving yards, 7 receiving touchdowns

Toney’s teammates call him “Baby Jesus,” and the true freshman delivered in a big way in his first season with the No. 10 Hurricanes. He ranks sixth in the FBS with 84 catches and had 1,328 all-purpose yards. Toney even threw for two scores. Not bad for an 18-year-old who would be a senior in high school if he hadn’t reclassified to the class of 2025.

2025 stats: 61.4% completion pct, 2,942 passing yards, 32 total touchdowns

Even after all the hand-wringing about Manning being overrated at the start of the season, the former five-star recruit ended up putting together a good campaign, throwing for 2,942 yards with 24 touchdowns. The No. 13 Longhorns need to find some offensive linemen (he was sacked 23 times) and receivers to help him in 2026.

2025 stats: 65.5% completion pct, 3,016 passing yards, 24 total touchdowns

Ole Miss officials have submitted a waiver to the NCAA on Chambliss’ behalf for another season of eligibility. He played his first three seasons at Division II Ferris State before transferring to Ole Miss this year. He was named SEC Newcomer of the Year after taking over the starting job in the third game of the season.

2025 stats: 1,560 rushing yards, 16 touchdowns

A transfer from Louisiana-Monroe, Hardy led the FBS with 130 rushing yards per game and was No. 2 with 1,560 total rushing yards. He had eight 100-yard games for the Tigers, including a whopping 300-yard effort with three touchdowns in a 49-27 victory against Mississippi State on Nov. 15.

2025 stats: 61.8% completion pct, 2,932 passing yards, 466 rushing yards, 31 total touchdowns

Reed announced this week that he plans to stay at Texas A&M next season, which is great news for the No. 7 Aggies. He was a threat with the ball in his hands, throwing for 2,932 yards with 25 touchdowns and running for 466 yards with six scores. His decision-making needs to continue to improve, so he can cut down on his 10 interceptions.

2025 stats: 63.6% completion pct, 3,117 passing yards, 20 total touchdowns

There’s a reason new Bears coach Tosh Lupoi took a late-night flight to Hawai’i to make sure Sagapolutele was staying at Cal. He was only the second true freshman in FBS history to pass for 200 yards or more in each of his first 11 starts. In the Bears’ late-season upsets of then-No. 21 SMU and No. 15 Louisville, Sagapolutele passed for a combined 653 yards with six touchdowns and no picks.

2025 stats: 1,279 rushing yards, 20 touchdowns

After transferring from Missouri, Lacy helped the No. 6 Rebels win 11 games in the regular season for the first time. He ranks No. 2 in the FBS with 20 rushing touchdowns and piled up 1,279 yards on the ground. Will he follow former coach Lane Kiffin to LSU or remain with the Rebels in 2026?

2025 stats: 66.2% completion pct, 3,431 passing yards, 29 total touchdowns

If Maiava returns to the No. 16 Trojans for another season, he’ll probably flourish in Lincoln Riley’s offense. This year, he threw for 3,431 yards with 23 touchdowns and 8 interceptions. He ranks No. 1 with a 91.2 total QBR. According to Pro Football Focus, he was second in the FBS with 26 big-time throws. (A big-time throw is defined as a high-difficulty, high-value pass.)

2025 stats: 1,035 rushing yards, 6 total touchdowns

Jackson became the fifth true freshman in OSU history to produce a 1,000-yard season, joining Robert Smith (1990), Maurice Clarett (2002), JK Dobbins (2017) and TreVeyon Henderson (2021). That’s good company. And, of course, he’d be the second Bo Jackson to collect a stiff-armed trophy.

2025 stats: 70.2% completion pct, 4,129 passing yards, 36 total touchdowns

Mestemaker is one of the best stories in college football. He didn’t start a single game in high school, then joined North Texas as a walk-on. This season, he led the FBS with 4,129 passing yards, helping him capture the Burlsworth Trophy as the top walk-on in the country. Will he join former Mean Green coach Eric Morris at Oklahoma State in 2026?

CJ Carr, QB, Notre Dame

2025 starts: 66.6% completion pct, 2,741 passing yards, 24 touchdowns

Fighting Irish coach Marcus Freeman entrusted Carr to lead his offense after a heated battle in preseason camp. The decision paid off, as Carr put together one of the best performances by a first-time starter in Notre Dame history. He threw for at least one touchdown in each of his first 12 starts, becoming the first Irish player to do that since Everett Golson in 2012-14. Carr’s 24 passing touchdowns are tied for the most in the first 12 starts by a Notre Dame player since 1966.

2025 stats: 70% completion pct, 2,850 passing yards, 595 rushing yards, 27 total touchdowns

Williams is one of the best dual-threat quarterbacks in the FBS, and his ability to run and throw was on display in the Huskies’ 38-19 victory against Rutgers on Oct. 10. He became the first player in school history to pass for at least 400 yards (400) and run for at least 100 (136) in the same game. Williams was second on the team with 595 rushing yards.

Others to watch: Sam Leavitt, QB, TBA; Cam Coleman, WR, Auburn; Brendan Sorsby, QB, Cincinnati; Josh Hoover, QB, TCU; Darian Mensah, QB, Duke; Nate Frazier, RB, Georgia; LJ Martin, RB, BYU; Bear Bachmeier, QB, BYU; LaNorris Sellers, QB, South Carolina; Bryce Underwood, QB, Michigan