Serie A has “sounded out private equity investor interest for a minority stake in its international media rights business,” according to sources cited by Pollina & Crowley of REUTERS. Serie A last year hired JP Morgan to “explore options for a unit holding the league’s international media rights.” Sources said Apollo, CVC, Ares and Sixth Street are “among several potential bidders JP Morgan has informally sounded out about the potential deal.” A source said the formal process is expected to start later this month. The sources said the league could “sell an up to 49% stake in the unit as part of a multi-year agreement” under the proposed deal pitched to funds. The sources added the potential move would “mirror private equity investments completed in other European leagues, including Spain and France, where investors have taken minority stakes in media rights businesses in exchange for upfront capital and long-term revenue sharing.” Pollina & Crowley note Serie A has “struggled to sell its media rights abroad,” as broadcasters’ interest “dwindled due to a crowded fixture list dominated by the expanded UEFA Champions League and the popularity” of the Premier League. The league explored a similar plan in 2021 to “sell a stake in its more lucrative domestic media unit,” but those talks “collapsed after the league’s 20 clubs failed to reach the required majority to approve a deal” (REUTERS, 4/8).
