Serie A is once again looking to international investors as it attempts to reshape its media rights strategy and close the financial gap with Europe’s top leagues.
According to reports, the Italian top flight is exploring the sale of a minority stake in its international television rights business, with several major private equity firms circling the opportunity.
Global funds line up
Among the interested parties are Apollo Global Management, CVC Capital Partners, Ares Management, and Sixth Street. Discussions are expected to intensify toward the end of April as the league seeks fresh capital.
The plan under consideration would see Serie A sell up to 49% of its international media rights unit, providing immediate liquidity while retaining long-term control.
A familiar playbook
This is not the first time Serie A has pursued such a strategy. Between 2020 and 2021, the league explored a similar deal, but negotiations collapsed following the involvement of Juventus FC—led by Andrea Agnelli—in the failed European Super League project.
Now, with that chapter closed and financial pressures mounting, the league is revisiting the idea with renewed urgency.
Chasing Europe’s elite
Serie A currently lags behind competitors like the Premier League and LaLiga in media revenue.
In 2025, the league turned to JPMorgan Chase to structure a financing plan that generates around €250 million annually—far below the levels achieved by its European rivals. The bank has also supported commercial initiatives, including sponsorship deals and the staging of the Italian Super Cup in Saudi Arabia.
The benchmark remains CVC Capital Partners’ investment in Spanish football, where it injected €2.1 billion into LaLiga in exchange for a share of future revenues. Serie A is hoping to replicate a similar model to accelerate growth.
Financial pressure builds
The timing of the move reflects deeper structural issues.
Clubs in Serie A collectively reported losses of €349 million in the 2024–2025 season, with only seven teams finishing in profit. Over the past five seasons, cumulative losses have reached €3.2 billion, underlining the league’s fragile financial position.
Since the 2016–2017 campaign, total losses have climbed to €3.9 billion, highlighting a long-term imbalance between revenue and costs.
A pivotal moment
For Serie A, the potential deal is more than a financial transaction. It is a strategic reset.
By bringing in institutional investors, the league aims to modernize its media business, increase global competitiveness, and stabilize club finances. The challenge will be balancing short-term liquidity with long-term control over one of its most valuable assets: broadcast rights.