The Financial Times claims CVC Capital Partners and Blackstone are both in negotiations to invest in Serie A, aiming to purchase around 20 per cent for €2bn.
This is slightly different to the version of events put forward yesterday by Il Sole 24 Ore, which is the Italian equivalent of the FT, as they suggested CVC were trying to purchase the TV rights and then sell them onto companies such as Sky and DAZN.
The Financial Times claims CVC Capital Partners and Blackstone are both in negotiations to invest in Serie A, aiming to purchase around 20 per cent for €2bn.
This is slightly different to the version of events put forward yesterday by Il Sole 24 Ore, which is the Italian equivalent of the FT, as they suggested CVC were trying to purchase the TV rights and then sell them onto companies such as Sky and DAZN.
Instead, the British view is that there are two private equity groups – CVC and Blackstone – both in separate talks to invest in the Lega Serie A.
It’s reported CVC want to purchase a 20 per cent stake for €2bn, valuing the entire League at €10bn.
This would give them “a role in selling broadcasting rights for 10 years from 2021,” following similar investments over the years in Formula One, MotoGP and England’s Premiership Rugby.
On the other hand, Blackstone would be ready to lend money to clubs “to help cover their costs during the shutdown of fixtures” in the COVID-19 pandemic.
Italy is famously lagging well behind the other major leagues when it comes to broadcasting revenues, as the Serie A clubs shared €1.2bn last year, a good €2bn less than the Premier League.