Key facts
- Carlyle, Bain, Oaktree, and Nextalia are preparing bids for a minority stake in Serie A's international media rights.
- The stake sale is for 10%-20% of the unit, which also holds international betting and sponsorship businesses.
- Binding offers are due by September 4.
- The venture is valued between €3 billion and €4 billion.
- A previous attempt to sell a stake in Serie A's domestic media rights in 2021 failed due to a lack of club approval.
Private equity firms Carlyle and Bain are among those preparing to submit binding bids for a minority stake in Serie A's international media rights unit, according to sources familiar with the matter. Oaktree, the owner of reigning Serie A champions Inter Milan, and Italian private equity firm Nextalia are also expected to participate in the bidding process. Binding offers are due by September 4 for the unit, which also encompasses Serie A's international betting and sponsorship businesses. Investors are anticipated to bid for a 10% to 20% stake, with the venture potentially valued between €3 billion and €4 billion. Serie A's adviser, JP Morgan, had previously initiated discussions with several private equity funds earlier this year. The league's previous attempt in 2021 to sell a stake in its more lucrative domestic media unit failed due to an inability to secure the required majority approval from its 20 clubs. Any sale of the international media business will also require the backing of at least 14 clubs. The Italian league has faced challenges in selling its international media rights in recent years, with broadcasters' interest waning due to a crowded fixture list and the popularity of other leagues like the English Premier League. The international media division currently generates approximately €250 million in annual sales, a figure significantly lower than those of Spain's LaLiga and England's Premier League.