Carlyle-led consortium offers to buy less than 10% stake in Serie A's media company: Letter

MILAN: A consortium of private equity funds led by Carlyle Group is ready to take a stake of less than 10 per cent in a new media company holding Serie A's broadcasting rights, a copy of the consortium's letter seen by Reuters showed on Monday.

The funds, which have dubbed their consortium 'Love for Football', would pay at closing a significant part of the price to Serie A clubs and the league itself, with the rest due over the following three years.

The 'Love for Football' consortium said in the letter that based on a preliminary assessment their offer would value Serie A's media company more than that belonging to Spain's Liga or France's Ligue 1 by applying a higher multiple to core profit.