Lega Serie A have taken a big step on Tuesday as they have voted in favour of external investment in their TV rights.
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As the Financial Times reports, CVC Capital Partners and Advent International have won the backing of Serie A clubs in a rights deal worth over €1.6bn.
The two private equity groups are now working with Italian investment firm Fondo FSI to get a 10% stake in a new company managing Serie A’s broadcasting rights, having teamed up in August after initially submitting rival brids.
Five clubs abstained from the vote: Napoli, Lazio, Atalanta, Verona and Udinese, while the remaining 15 all voted in favour. There was a rival proposal from Bain that nobody voted in favour of, while a last-minute bid from US investment firm Fortress was rejected as it was too late.
CVC and Advent have now secured a four weeks exclusivity period in which they will conduct negotiations with Lega Serie A to iron out the remaining details.
The Financial Times adds that three people involved in the negotiations have told them that Serie A officials have contacted Sky and DAZN to start negotiations for a potential one-year renewal.