Serie A's media business gets private equity interest from Carlyle, others - sources

MILAN :Private equity firms including Carlyle Group and Apax Partners have expressed interest in investing in the media business of Italy's top flight Serie A soccer league, two sources familiar with the matter said on Monday.

Other European national soccer leagues such as 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 whether to follow 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 partnering with Serie A, the sources said, citing two separate letters sent to the league which did not contain valuations of the media business.

Serie A has shared the contents of the letters with clubs but no meeting has yet been called to discuss them, the sources said.

Serie A, Carlyle, Apax, Three Hills and Searchlight all declined to comment.

Serie A last year failed to finalise a 1.7 billion euro ($1.67 billion) deal to sell a 10 per cent stake in its media business to a consortium of funds led by CVC Capital Partners due to internal infighting and staunch opposition from some of the clubs, including Napoli and Lazio.

Carlyle, Apax and Three Hills held a meeting with Italy's top flight soccer league chiefs last week as the three private equity firms were considering a joint proposal, sources had previously told Reuters.

The Italian league also held a meeting with Searchlight representatives, who expressed interest in a potential deal as well, the sources added.

Private equity investors have approached Serie A as it prepares to tender its broadcasting