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Oaktree submits bid to invest in Serie A media business, sources say

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MILAN : Investment fund Oaktree has submitted a preliminary non-binding offer to invest 1.75 billion euros ($1.90 billion) into the media business of Italy's Serie A soccer league, people familiar with the matter said on Friday.Serie A's media business, which mainly consists of the broadcast rights for l

MILAN : Investment fund Oaktree has submitted a preliminary non-binding offer to invest 1.75 billion euros into the media business of Italy's Serie A soccer league, people familiar with the matter said on Friday.

Oaktree would structure the proposed investment through a combination of debt and cash which would imply an enterprise value for the company managing Serie A's media rights of 15 billion euros, the people said. The proposal would be subject to a lock-up period of five years, the sources added, asking not to be named because the proposal is not public.

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