IMG has acquired broadcast rights for Italy’s premier division football league – Serie A.
The three-year deal is reportedly valued at $437 million annum. The de, running up to 2020-21 for three seasons, has almost doubled the Serie A media rights value.
Incumbent MP and Silva were paying $224 million per season.
“The awareness of the Italian league’s potential is growing,” said Luigi De Siervo, the CEO of Serie A advisor Infront. “The clubs have chosen a partner that convinced everyone, not just for the economic terms but above all for the development plan.”
While the 18 clubs present for the vote Tuesday selected IMG unanimously, Aurelio De Laurentiis left the room angrily beforehand, with the president of Serie A leader Napoli calling the offers “mortifying”, AP has reported.
The deal makes Serie A third highest valued property for in European league media rights behind English Premier League ($1.5 billion) and the Spanish La Liga ($750 million). German Bundesliga media rights are sold for $282 million.
Serie A still makes most of its money from domestic TV rights deals with Sky and Mediaset.