Serie A turns to private equity funds for media company

By: The Associated Press Posted: Last Modified:

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MILAN - 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.

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Hey there, time traveller!
This article was published 09/09/2020 (2209 days ago), so information in it may no longer be current.

MILAN – 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.

Italy's players celebrate after winning the UEFA Nations League soccer match against The Netherlands at the Johan Cruijff ArenA in Amsterdam, Netherlands, Monday, Sept. 7, 2020. Italy beat The Netherlands 1-0. (AP Photo/Peter Dejong)
Italy's players celebrate after winning the UEFA Nations League soccer match against The Netherlands at the Johan Cruijff ArenA in Amsterdam, Netherlands, Monday, Sept. 7, 2020. Italy beat The Netherlands 1-0. (AP Photo/Peter Dejong)

The two main offers for 10 per cent 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.

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

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