Serie A accepts $2 billion offer from equity funds

By: The Associated Press Posted: 8:56 AM CST Thursday, Nov. 19, 2020 Last Modified: 10:45 AM CST Thursday, Nov. 19, 2020

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ROME - Desperate for cash amid the coronavirus crisis, Serie A’s 20 clubs voted unanimously Thursday to accept a 1.7 billion euro ($2 billion) offer from a consortium of private equity funds that will be charged with improving the sale and promotion of the league’s TV rights.

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Hey there, time traveller!
This article was published 19/11/2020 (2115 days ago), so information in it may no longer be current.

ROME – Desperate for cash amid the coronavirus crisis, Serie A’s 20 clubs voted unanimously Thursday to accept a 1.7 billion euro ($2 billion) offer from a consortium of private equity funds that will be charged with improving the sale and promotion of the league’s TV rights.

“There are still a lot of checks to be done but we’ve accepted the offer,” Serie A president Paolo Dal Pino said. “We’ve done something unique in a really dramatic time. … The economic impact on clubs (from the pandemic) is about 600 million euros ($700 million).”

The consortium featuring CVC Capital Partners, Advent International and FSI will control 10% of the league’s new media company.