Clubs voted unanimously to sell 10 per cent of the media company formed to control Serie A TV rights to private funds for €1.7 billion.
The 20 Serie A sides were all in favour of the historic move, which for the first time allows private funds to invest in the control of Serie A pay-per-view television rights.
“We have accepted the financial proposal, but have not yet completed the deal. There is no binding documentation,” said Lega Serie A President Paolo Dal Pino.
Clubs voted unanimously to sell 10 per cent of the media company formed to control Serie A TV rights to private funds for €1.7 billion.
The 20 Serie A sides were all in favour of the historic move, which for the first time allows private funds to invest in the control of Serie A pay-per-view television rights.
“We have accepted the financial proposal, but have not yet completed the deal. There is no binding documentation,” said Lega Serie A President Paolo Dal Pino.
“The private equity funds are prepared to invest €1.7 billion in this historic moment to own 10 per cent of the media company that will control our football’s commercial rights. We are counting on reaching a conclusion over the next few weeks.”
The step was even more necessary at a time when Serie A sides are struggling financially in the midst of the pandemic.
“Serie A is finding its own path out of this crisis, but that doesn’t mean our requests to the Government for help are no longer current. We want to be treated like any other industry followed by millions of people,” added Lega Serie A general manager Luigi De Siervo.
“We have been able to do in 35 days what hadn’t been achieved in 90 years of Serie A history.”