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.
– 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.