Serie A clubs to start review of media unit project

MILAN : Serie A clubs on Friday agreed to start a review of a plan to create a media unit, a move which could clear the way for external investors to take a slice of the soccer league's key business.

Serie A, which relies on broadcasting rights for more than half of its revenues, lags behind the English Premier League and other major leagues in Europe in terms of income.

Serie A clubs discussed plans to set up a media unit at a closed door meeting on Friday, the league's president Lorenzo Casini told reporters during a press briefing.

"By the end of November, we will decide whether to pursue the media unit project, or make different choices," Casini said.

Spain's LaLiga and France's Ligue 1 have clinched deals to sell part of their media business to private equity funds to sustain investments after the pandemic hit clubs' finances hard. Germany's Bundesliga is also considering following suit.

New York-based Searchlight Capital as well as a group of funds led by Carlyle comprising Apax and Three Hills Capital have expressed a preliminary interest in buying into Serie A's broadcasting rights.

Serie A's review of the media unit project pre-empts an upcoming round of broadcasting tenders next year. Under existing contracts, Serie A pockets around 1.2 billion euros per season from the sale of broadcast rights.