July 25 – Italian clubs will progress discussions on potential venture capital investors in Serie A in meetings scheduled for next week.
In February, CVC were the first to approach Serie A with a €2.2 billion offer to acquire 20% in a new company to manage the league’s broadcasting rights from 2021, the league’s international trademark and the commercial development.
Since then a number of other rivals from both private equity and venture capital funds have shown interest in providing financial solutions to the precarious state Italian elite football finds itself in following the coronavirus shutdown.
CVC, who reportedly had a period of exclusivity with Serie A to conclude a deal, could now find itself outmaneuvered by other competitors in Italy. Reuters and the Financial Times report that Bain, Advent, Wanda, General Atlantic, Apollo, Fortress and Blackstone’s credit arm GSO have all expressed serious interest in acquiring a stake in Serie A’s commercial business.
Last season, Serie A generated €1.2 billion in broadcasting revenues, but investors believe there is room for significant commercial growth for Italian football. However, the issue for club owners is reportedly over how much equity they would have to give up.
Serie A’s broadcast will deal will come to an end next season. That provides a focus point and timeline in terms of getting a deal done for new money into the league.
Contact the writer of this story, Samindra Kunti, at moc.l1596898876labto1596898876ofdlr1596898876owedi1596898876sni@o1596898876fni1596898876