Looking for ways to lift flagging revenues and weather the coronavirus crisis, Serie A has asked investors to submit bids to buy a stake of up to 15% in a newly-created media company that would control its broadcast rights.
Private equity firms CVC, Bain Capital and Advent International have submitted bids for a stake in the business, while Apollo, Fortress and Blackstone's credit arm GSO have made proposals for debt or hybrid financing deals, the sources have said. "We need to assess what's the best way," Serie A president Paolo Dal Pino told reporters after a meeting with top executives from the 20 clubs on Thursday.
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