Serie A turns to private equity funds for media company

MILAN (AP) — Serie A decided Wednesday to create its own media company financed in part by private equity funds to better organize the sale and promotion of the league’s TV rights.

The vote was unanimous by the 20 clubs.

The league has a number of offers on the table, and will make a decision on which to accept in the coming weeks.

The two main offers for 10 percent of the media company are reportedly 1.6 billion euros ($1.9 billion) from a consortium featuring CVC Capital Partners, Advent International and FSI; or 1.35 billion euros ($1.6 billion) from Bain Capital and NB Renaissance Partners.

Advertisement

Serie A president Paolo Dal Pino said the media company will be created with or without the equity funds.

“It’s a very positive sign,” Italian Soccer Federation president Gabriele Gravina said.

___

More AP soccer: https://apnews.com/Soccer and https://twitter.com/AP_Sports

Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.