Avenue Capital is top contender for stake in Serie A media rights business
Avenue Capital has emerged as the leading contender to acquire a minority stake in the company responsible for international media rights for Italy’s Serie A football league, in a deal that could value the venture at €3.2bn, according to a report by Reuters.
Avenue Capital is currently the frontrunner in a race to acquire a minority stake in the entity that manages the international media rights for Italy's Serie A football league, potentially worth €3.2bn, according to a Reuters report. The New York-based private markets firm is seeking a 10% stake worth €320m from the investment. While other proposals boast higher headline valuations, Avenue Capital's offer is gaining favor due to its simplicity, involving an equity investment without further safeguards over future earnings.
A rival consortium, consisting of Carlyle and Nextalia, has put forward roughly €650m for a 17% stake, suggesting a €3.75bn valuation. Serie A clubs are now deliberating over these competing offers, with Avenue Capital's bid anticipated to receive additional scrutiny in the forthcoming weeks. However, obtaining approval from at least 14 out of the 20 league members is a prerequisite for any potential deal, and a final decision has yet to be reached.
The proposed investment would encompass the league's international broadcasting, sponsorship, and betting rights. Serie A generates around €250m yearly from international media activities, presenting opportunities for expansion as the league looks to bolster its commercial standing against competitors such as the English Premier League and Spain's LaLiga.
Written by urgent.news from Private Equity Wire's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
