July 31 (Reuters) - French ⁠automotive group Cosmobilis and private credit investor Park Square Capital acquired the commercial ⁠rights to the World Rally Championship on Friday in what the governing body ‌hailed as the"deal of the century" for the sport.

The International Automobile Federation (FIA) said the long-term agreement, which includes the rights to the FIA European Rally Championship, followed the takeover of Munich-based WRC Promoter GmbH.

The previous rights ​holders were Red Bull and German investment firm KW25. ⁠Former Formula One team boss Eric ⁠Boullier will now head the operation.

“This is truly the deal of the century for rallying, ⁠and ‌I am proud to announce this transformative step forward, and never-before-seen levels of investment," said FIA President Mohammed Ben Sulayem in a statement.

“Not only will it ⁠deliver real benefits to fans, competitors and our member clubs ​worldwide, but this investment signifies ‌confidence in the future of our sport as its global popularity continues to ⁠grow."

No financial details ​were given but the FIA said it was the biggest deal in the history of both championships and a 'pivotal moment' for the WRC.

Park Square Capital, which manages more than $22 billion on behalf ⁠of its investors, will provide capital and strategic support.

One ​source said in April that the purchase of WRC Promoter was likely to be for less than 500 million euros ($575.85 million).

Boullier will be WRC Promoter's chief executive. The Frenchman was previously ⁠a principal of the Lotus Formula One team (now competing as Renault-owned Alpine) and also racing director of McLaren from 2014 to 2018.

"Alongside the FIA and our partners, we want to make every round a spectacular event, designed to thrill fans around the world," he said.

"The ​goal is clear: to establish the WRC and ERC as ⁠world-class global brands and a driver of sustainable growth, closely aligned with today’s technological and ​environmental challenges."

The WRC races on four different continents with ‌14 rounds this year. Its reigning champion is ​Toyota's Frenchman Sebastien Ogier, a nine-times title winner. Next-generation technical regulations are due in 2027.

($1 = 0.8683 euros)

(Reporting by Alan Baldwin in London; Editing by Ken Ferris)