Soccer-Italy's Serie A clubs vote to review private equity bids for media business

Reuters

Updated Wed, Sep 9, 2020, 8:34 AM1 min read

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MILAN, Sept 9 (Reuters) - Clubs in Italy's Serie A soccer league voted to conduct an indepth review of bids by private equity funds for a stake in a newly created media unit to handle the league's broadcast rights, two people close to the matter said on Wednesday.

The clubs voted unanimously to carry out further reviews on two separate bids led by CVC Capital Partners and Bain Capital , which value a 10% stake in Serie A's media businesses at up to 1.6 billion euros, the sources said.

The new vehicle will control the league's broadcasting rights business for the next 10 seasons. (Reporting by Elvira Pollina, Elisa Anzolin)

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