Key facts
- Carlyle, Bain, Oaktree, and Nextalia are preparing to bid for a minority stake in Serie A's international media rights company.
- The unit also includes Serie A's betting and sponsorship business abroad.
- Binding bids are due by September 4.
- Investors are expected to submit binding offers for a 10% to 20% stake.
- The venture generates around €200 million in core earnings and could be valued at €3 billion to €4 billion.
- Serie A's adviser JP Morgan started sounding out private equity funds over the potential stake sale in April.
Private equity firms Carlyle, Bain, Oaktree, and Nextalia are preparing to submit binding bids for a minority stake in Serie A's international media rights company, with offers due by September 4. The unit also encompasses Serie A's betting and sponsorship businesses abroad.
This move represents the latest effort by Italy's top soccer league to attract outside investment. JP Morgan, acting as Serie A's adviser, began exploring potential stake sales with private equity funds in April.
Investors are anticipated to offer binding bids for a stake between 10% and 20% in the venture. This business unit generates approximately €200 million ($231.66 million) in core earnings and is estimated to be valued between €3 billion and €4 billion.
Any sale of a stake in Serie A's media operations requires approval from at least 14 of the league's 20 clubs. In 2021, a similar plan to sell a stake in the more lucrative domestic media unit failed due to a lack of club support, including a proposed €1.7 billion deal with a consortium led by CVC.
Serie A's international media unit generates about €250 million annually, significantly less than the Premier League and LaLiga. This potential stake sale follows similar investments made by private equity firms in other European leagues, such as Spain and France.