Avenue Capital Leads Serie A Media Stake Bid
Avenue Capital is the leading bidder for a ten percent stake in the international media rights venture of Italys Serie A. The firm offered 320 million euros for the equity investment. Serie A clubs are reviewing the proposal.
Avenue Capital emerged as the leading bidder for a minority stake in Italy's Serie A international media rights venture, offering €320M for a 10% holding. The proposal values the new broadcasting and sponsorship company at €3.2B. Serie A clubs reviewed the final bids during a meeting following the recent tender process.
The New York-based private equity firm leads the competition despite lower bids from rivals because its proposal relies on common equity without cash-flow protections. Carlyle Group Inc submitted a joint offer with Nextalia worth €650M for a 17% stake, valuing the venture at €3.75B. Serie A clubs will evaluate the proposals further in the coming weeks, though no final agreement has been reached.
