JPMorgan Chase & Co have written to Serie A to express an interest in making an investment in the league, according to a report.
According to Reuters, JP Morgan follow several investment funds who have approached Serie A about the possibility of investing as the league are getting ready to sell their domestic and international broadcasting rights in 2024.
The report adds that the 20 Serie A clubs were informed of the interest from the American bank during a meeting between executives on Thursday, and that JP Morgan could provide between €700m to €1bn in bank financing.
At the moment, Serie A lags way behind the likes of the Premier League and LaLiga in terms of income generated from broadcasting rights and ‘is looking at ways to revive its global appeal’.
Serie A clubs have ‘been discussing the creation of a media unit’ which could thus facilitate the potential for external investors to buy in. The clubs are expected to meet on February 24 to discuss how to respond to the approaches by JP Morgan.
