Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros -sources

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Exclusive: JPMorgan looking to finance Italy's Serie A for up to 1 bln euros -sources
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JPMorgan Chase & Co has written to Italy's top soccer league to express a preliminary interest in supporting the development of Serie A's media business, three people close to the matter said.

A person enters the JPMorgan Chase & Co. New York Head Quarters in Manhattan, New York City, U.S., June 30, 2022. REUTERS/Andrew KellySerie A studying ways to boost revenues via media rightsClubs to assess in coming weeks JPM's, funds' proposalshas written to Italy's top soccer league to express a preliminary interest in supporting the development of Serie A's media business, three people close to the matter said.

JPMorgan is expected to be able to provide between 700 million and 1 billion euros in bank financing, one of the people said speaking on condition of anonymity because discussions are not public. Serie A has been looking at options to extract more money from its media rights, which account for roughly half the revenues of its clubs.

In exploring ways to boost revenues, Serie A clubs have been discussing the creation of a media unit, a move which could pave the way for external investors to take a slice of this key business.

 

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