Serie A delays media rights decision as bids fall short

MILAN : Bids for domestic rights for Italian Serie A soccer remain below the 1 billion euro annual price tag sought by clubs for the five years from 2024-2025 and a decision on a deal has been delayed until October, the head of the league said.

Domestic broadcasting licences are a key source of revenue for Serie A clubs such as this year's champions Napoli, Juventus and Milanese clubs AC Milan and Inter.

The Italian league had kicked off a round of talks with DAZN, Sky Italia and MediaForEurope after a first set of bids submitted by the broadcasters for the live rights to matches was dismissed as too low.

"Despite some improvements...we have still work to do. Our goal remains to collect 1 billion euros per season," Serie A Chief Executive Luigi De Siervo told reporters at an event in Milan late on Wednesday.

Earlier in the day, the league said offers received from broadcasters would remain in place until Oct. 15 as clubs and the league sought to maximise the value of their media rights.

Under a three-year deal expiring next June, Serie A is collecting some 930 million euros ($1 billion) per season from the sale of its broadcasting rights in Italy, with DAZN holding the lion's share. ($1 = 0.8981 euros)