Advent International has entered the race for a stake in Serie A, the Italian soccer league that’s already considering offers from rival private equity firms CVC Capital Partners and Bain Capital, according to people familiar with the matter.
Advent has made a bid for a stake in Serie A, the people said, asking not to be identified as the matter is private. Its proposal could value the league at about 13 billion euros ($14.6 billion), the people said.
Representatives for Advent and Serie A declined to comment.
Advent has made its move just weeks after Bain’s 3 billion-euro preliminary offer for a roughly 25% stake in Serie A, Bloomberg News reported at the time. This topped an earlier one made by CVC, which has been holding talks about taking as much as 20% in Serie A for 2 billion euros, people familiar with the matter said in May.
Serie A is Europe’s fourth-richest soccer league, according to Deloitte Sports Business Group’s latest review of the game, published earlier in June. It generated revenue of about 2.5 billion euros in 2018-2019, with almost 60% coming from broadcasting. Bain and CVC are seeking a minority stake in a league unit that owns lucrative television rights, the people said.
Games have only just resumed in Serie A after months of being suspended because of the coronavirus crisis. The league is home to players including Juventus Football Club SpA’s Cristiano Ronaldo and Zlatan Ibrahimovic of AC Milan SpA.
Source; Bloomberg
Can’t stop reading? Read more
Florida-based Palm Peak Capital acquires Pacific Shoring in first investment deal
Palm Peak Capital, a private equity firm launched in 2024 by former Sun Capital Partners...
Continuation funds emerge as a key strategy in private equity’s long-term growth playbook
Private equity firms are increasingly using continuation funds to extend ownership of portfolio...
Colbeck Capital closes $700m strategic lending fund
Colbeck Capital Management closed its $700m Strategic Lending Fund, designed to provide customised...