Serie A TV rights: League approves a €1.7bn offer from the CVC-Advent-FSI consortium

The general meeting of the Lega Serie A has unanimously decided to approve the offer from a consortium made up of CVC Capital Partners, a Luxembourg fund with a significant presence in rugby (see related article), the American fund Advent, and the Italian public fund FSI (Fondo Strategico Italiano) to acquire a 10% stake in the future media company of the Italian League for an amount of €1.7bn, announced the Italian League on 19/11/2020.

"Today we have reached an agreement voted unanimously and we have accepted the economic-financial proposal, but we have not yet closed, and there is still no binding commitment of any kind," said Paolo Dal Pino, president of Lega Serie A, at the end of the meeting.

The Italian League had decided to start exclusive negotiations with this consortium for the creation of a media company to manage the audiovisual rights of Serie A TIM from 2021-22, on 13/10/2020. This consortium was in competition with another consortium composed of the American fund Bain Capital and the Italian fund NB Renaissance Partners, as well as with an offer from the American fund…