Several private equity firms, including Carlyle and Bain, are preparing bids to acquire a minority stake in a company that holds the international broadcasting rights to Italy’s Serie A soccer league.
Oaktree, the owner of current Italian champions Inter Milan, and private equity firm Nextalia are also expected to submit offers.
The information was reported by financial news agency Reuters, citing sources familiar with the process, in what marks the latest attempt by Italy’s top-flight soccer league to attract outside investors.
Investors are expected to submit binding bids by September 4.
In addition to broadcasting rights, the company will also be responsible for Serie A’s international betting and sponsorship businesses.
Earlier this year, investment bank JP Morgan, which is advising Serie A, began approaching several private equity firms over the potential sale of a stake in the business.
Investors are expected to bid for between 10% and 20% of the company, which generates around €200 million in earnings before interest, taxes, depreciation and amortisation (EBITDA) and could be valued at between €3 billion and €4 billion, according to the sources.
Serie A, Carlyle, Bain, Oaktree and Nextalia declined to comment. JP Morgan did not immediately respond to a request for comment.
Any sale of a stake in Serie A’s media businesses would require the approval of at least 14 of the 20 clubs that make up the league.