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Serie A Accepts $2 Billion Offer From Equity Funds

Serie A Accepts $2 Billion Offer From Equity Funds

Desperate for cash amid the coronavirus crisis, Serie As 20 clubs voted unanimously Thursday to accept a 1.7 billion euro ($2 billion) offer from a consortium of private equity funds that will be charged with improving the sale and promotion of the leagues TV rights.

ROME: Desperate for cash amid the coronavirus crisis, Serie As 20 clubs voted unanimously Thursday to accept a 1.7 billion euro ($2 billion) offer from a consortium of private equity funds that will be charged with improving the sale and promotion of the leagues TV rights.

There are still a lot of checks to be done but weve accepted the offer, Serie A president Paolo Dal Pino said. Weve done something unique in a really dramatic time.

The consortium featuring CVC Capital Partners, Advent International and FSI will control 10% of the leagues new media company.

Once the contracts are signed, the first order of business will be selling TV rights for the next three seasons.

The league also needs to determine how to divide the money between the 20 clubs.

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