# Private equity funds approach Italy’s Serie A to explore media rights deal -sources
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-09-29
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Private Equity Firms Eye Serie A Media Business Investment
Meta Description: Apax Partners, Three Hills Capital Partners, Carlyle Group and Searchlight Capital eye Serie A media investment after failed 1.7 billion euro deal last year.
URL: https://financedigest.com/private-equity-funds-approach-italys-serie-a-to-explore-media-rights-deal-sourceshtml

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By Elvira Pollina

MILAN (Reuters) -Apax Partners, Three Hills Capital Partners, Carlyle Group and Searchlight Capital have approached Serie A expressing interest in investing in the media business of Italy’s top flight soccer league, three sources close to the matter said on Wednesday.

The approach by the four private equity firms comes after Serie A last year failed to reach a media rights deal worth 1.7 billion euros ($1.7 billion) with a group of funds led by CVC Capital Partners due to opposition from some of its clubs, including Juventus and Lazio.

Serie A, Apax and Carlyle declined to comment. Three Hills and Searchlight did not immediately respond to a request for comment.

Other European national soccer leagues such as Spain’s La Liga and France’s Ligue 1 have clinched deals to sell part of their media business to private equity firms to sustain [investments after the pandemic](https://www.financedigest.com/3-investing-lessons-you-can-learn-from-still-evolving-pandemic.html "3 Investing lessons you can learn from still-evolving pandemic") hit revenues.

The sources, who declined to be named because talks are confidential, said representatives for Apax, Carlyle and Three Hills met with Serie A top executives earlier this week.

One of the sources said the three funds, which are working with Italian [law firm](https://www.financedigest.com/international-law-firm-calls-in-viato-connect-uk-and-us-offices.html "INTERNATIONAL LAW FIRM CALLS IN VIATO CONNECT UK AND US OFFICES") Zoppini, could present a joint preliminary proposal in the next few days.

Searchlight representatives held a separate meeting with Serie A chiefs, the sources said, adding the [fund is also considering](https://www.financedigest.com/norway-wealth-fund-to-consider-investing-in-unlisted-equities.html "Norway wealth fund to consider investing in unlisted equities") submitting a formal expression of interest.

The funds’ interest was briefly discussed at a closed-door meeting the 20 Serie A clubs held in Milan on Wednesday, the sources said, adding Serie A would share with the clubs any proposal from the [private equity](https://www.financedigest.com/4-trends-that-will-have-a-major-impact-on-private-equity-in-2021.html "4 Trends that will have a major impact on private equity in 2021") investors.

The clubs on Wednesday also resumed discussions over how to create a separate unit for their [media and broadcasting business](https://www.financedigest.com/ladbrokes-owner-entain-buys-sports-media-business-365scores.html "Ladbrokes owner Entain buys sports media business 365scores"), which could pave the way for partnerships, two of the sources said.

($1 = 1.0276 euros)

[(Reporting by Elvira Pollina in MilanEditing by Valentina Za and Matthew](https://www.financedigest.com/hurricane-matthew-causes-up-to-15bn-impact-to-us-and-caribbean-economies-in-october-according-to-aon-catastrophe-report.html "Hurricane Matthew causes up to bn impact to US and Caribbean economies in October, according to Aon catastrophe report") Lewis)


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