In the latest sign of private equity pushing into professional sports, Bain Capital has offered to purchase a 25% stake in Italian soccer league Serie A for €3 billion (about $3.4 billion), according to Bloomberg. The news comes after CVC Capital Partners reportedly offered earlier this year to buy a 20% stake in the league for €2 billion and Blackstone discussed providing loans to struggling Serie A clubs affected by the coronavirus pandemic.
The home of global stars including Cristiano Ronaldo and Romelu Lukaku, Serie A is among the most prestigious soccer leagues in Europe. It pulled in some €2.5 billion in revenue during the 2018-19 season. The league plans to resume play on June 20 after suspending its season in early March due to COVID-19.
Stoppages across the world of sports haven’t deterred recent private equity interest in sports leagues, many of which have seen franchise valuations soar in recent years. In April, Arctos Sports Partners revealed it had raised $500 million toward a reported $1.5 billion target for a vehicle that will invest in teams across leagues in North America and Europe.
Source: PitchBook
Can’t stop reading? Read more
Fund Friday: Top fundraising news in private equity
Fund Friday: Top fundraising news in private equity Eurazeo has secured €480m, or roughly $567m,...
Blackstone secures regulatory approval to buy stake in India’s Federal Bank
Blackstone secures regulatory approval to buy stake in India’s Federal Bank Blackstone has...
BlackRock folds Aladdin deeper into private markets with unified data platform
BlackRock folds Aladdin deeper into private markets with unified data platform BlackRock is...