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Carlyle-led consortium offers to buy less than 10% stake in Serie A's media company-letter

Reuters
Updated ·1-min read

MILAN (Reuters) - A consortium of private equity funds led by Carlyle Group is ready to take a stake of less than 10% in a new media company holding Serie A's broadcasting rights, a copy of the consortium's letter seen by Reuters showed on Monday.

The funds, which have dubbed their consortium 'Love for Football', would pay at closing a significant part of the price to Serie A clubs and the league itself, with the rest due over the following three years.

The 'Love for Football' consortium said in the letter that based on a preliminary assessment their offer would value Serie A's media company more than that belonging to Spain's Liga or France's Ligue 1 by applying a higher multiple to core profit.

(The story is refiled to fix typo in 'company' in headline)

(Reporting by Elvira Pollina, editing by Valentina Za)