Source: Reuters
Serie A, Italy’s top-flight football league, is considering new options to strengthen its international media business, including a possible sale of a minority stake to external investors and long-term strategic partnerships with global media agencies, according to sources familiar with the matter.
The league, home to giants such as AC Milan and Juventus, currently earns around €250 million annually from international broadcast contracts — a fraction of what the English Premier League generates abroad. This revenue gap underscores the urgent need for Serie A to enhance its global reach and commercial positioning.
Why the Move Now?
Like other European leagues, Serie A has faced challenges selling overseas rights in recent years. Factors include:
- A congested fixture calendar dominated by an expanded UEFA Champions League.
- The Premier League’s overwhelming global appeal, which has absorbed market share.
- Broadcasters showing less appetite for high-cost football packages amid tighter margins.
With more than half of its 20 clubs now under U.S. ownership, Serie A is under pressure to modernize its commercial model and close the international revenue gap.
JP Morgan’s Role
Serie A has appointed JP Morgan to conduct a comprehensive review of its international media rights. Options under consideration include:
- Establishing a dedicated media business unit to manage global rights.
- Selling a minority stake in that unit to private equity investors.
- Forming partnerships with data-driven media agencies such as Peak and IRIS, which could support global distribution and enhance the league’s presence abroad.
JP Morgan is expected to deliver its findings to Serie A clubs by the end of the year. Neither the bank nor the league have commented publicly on the ongoing process.
A Familiar Dilemma
Serie A has previously explored selling stakes in its media business. In 2021, the league considered selling 10% of its domestic media rights to a CVC-led consortium in a deal valued at €1.7 billion, but the proposal failed to secure enough support from the clubs.
Now, the focus has shifted firmly to the international side — an area where Serie A trails not only the Premier League but also Spain’s LaLiga and Germany’s Bundesliga in terms of revenue generation.
What This Means for Serie A?
- Private Equity Can Accelerate Global Reach
Bringing in specialist investors would provide capital, expertise, and networks to improve overseas distribution, but risks ceding strategic control if not carefully structured. - Agency Partnerships Are Critical
Partnering with firms like Peak and IRIS could allow Serie A to leverage advanced data analytics, digital targeting, and regionalized content strategies that are now essential for global fan engagement. - Brand Positioning Challenge
To close the gap with the Premier League, Serie A must market itself not just on tradition, but on storytelling, youth talent pipelines, and the global visibility of its stars. - Timing Matters
With the Champions League expanding and new competitions entering the market, Serie A must act quickly or risk further erosion of global visibility and relevance.
Final Word
Serie A’s move to consider international stake sales and long-term partnerships reflects a broader shift in European football, where international media rights are becoming the key battleground for growth.
For Italy’s top league, the stakes are clear: without bold moves, the gap with its English rival will only widen. With JP Morgan’s review due by year-end, the coming months could define whether Serie A finally unlocks its global potential — or continues to lag behind.
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IMAGE: Reuters
