Agreement closed. Serie A has sealed the sale of 10% of its audiovisual rights to CVC Capital Partners and Advent International for a value of 1.7 billion euros. The FSI group will also be part of the consistory.
“The agreement is a milestone in the history of the Italian football industry and will allow us to reaffirm that Serie A is a world-class brand,” said Paolo Dal Pino, president of the competition.
Serie A and its twenty teams want to build a “more modern” revenue-generating platform, according to Dal Pino, who has been in charge of the league since January 2020, succeeding Gaetano Michichè.
Last July, Serie A assessed the maximum stake that interested funds could acquire at 15% and 2,200 million euros. During the last months CVC had exclusive negotiations with Serie A to close the agreement, but after not being able to close it, the process entered the selection through a public offer after receiving the green light from the general assembly of the league.
The maximum Italian football competition has stopped entering 500 million euros for the Covid-19. The executive director of the league, Luigi de Siervo, has revealed that the entity has stopped billing more than 500 million euros, since the three main sources of income of the league, ticketing, sponsorships and television rights, have been affected.