Serie A Investments : Wanda Sports join the interested parties list

Wanda Sports Group and its agency Infront is the latest entrant in the race to buy stake in the Italian football league Serie A. Wanda has joined the likes of CVC Capital Partners, Bain Capital, Advent International, General Atlantic, TPG Capital and Apollo Global Management who have made offers to Serie A in last 3 months. 

Infront has strong existing ties to the Lega as Serie A’s international and domestic media rights partner. The agency holds a six-year near $6.8bn minimum-guarantee agreement to work as its exclusive adviser on domestic and international rights media-rights sales, but that deal comes to an end in 2021. 

According to multiple reports in the Italian media, the process moved forward at the LEGA’s latest general assembly meeting held yesterday (Monday). La Repubblica newspaper said the shortlisted parties will now be asked to submit concrete offers by July 24th. Post that, governing body will convene a meeting and all the proposals will be evaluated and clubs will be asked to vote for them.  

  
Serie A Investments : Details of few Offers in hand for stake sale 
 
Serie A till March was in a period of exclusive negotiation with CVC Capital but once that ended – others have joined the race. Serie A is currently looking to sell a minority stake in a separate division that manages the league’s broadcast rights, both domestically and on an international basis.
 

– Bain Capital tabled a reported US$3.4 billion preliminary offer for a 25 per cent stake in the Serie A business 

– Advent bid was said to value Italian soccer’s top flight at US$14.6 billion. 

– Luxembourg-based CVC Capital Partners had reportedly been in exclusive talks with Serie A over a US$2.4 billion deal to acquire 20 percent of the league.

According to the report, Serie A has also appointed French Financial consultancy firm Lazard to evaluate the proposals from the interested parties. 
 
Serie A decided to offload some of its stake in order to financially strengthen itself and fight the impact of the Covid19 pandemic. According to Gabriele Gravina, president of the Italian Football Federation (FIGC), the pandemic has already cost Serie A US$526 million. Not only this in the month of Mar-April, Serie A was also in talks with US-based Blackstone for a US$112 million short-term loan to help Serie A clubs sail through the difficult times created by Coronavirus.