Italy’s Serie A — one of football’s most storied leagues — is exploring the sale of a stake in its international media rights business, in a move designed to inject new life (and capital) into a league struggling to keep pace with global rivals.
According to industry sources, Serie A has reached out to multiple private equity firms to gauge their interest in acquiring a portion of the league’s overseas broadcasting arm. While conversations remain preliminary, they signal a fresh strategic pivot after earlier efforts — including a proposed $2 billion stake sale in 2021 — fell apart amid resistance from key stakeholders.
A Sleeping Giant with Structural Struggles
Despite hosting legacy clubs like Juventus, AC Milan, and Inter Milan, Serie A is underperforming commercially on the global stage.
- Revenue disparity: Premier League clubs generate over €6.5 billion annually, more than double Serie A’s €2.9 billion in 2023-24.
- Underleveraged global fandom: Outside Italy, Serie A’s broadcast deals have failed to command the kind of premiums seen in England or even Spain.
- Structural debt: Many Italian clubs are still operating at a loss, and European competition performances — while improving — haven’t translated into commercial leverage.
With a reported €700 million valuation for its international rights (2021–2024 cycle), Serie A believes a private equity partner could help supercharge global monetisation — provided the model is sustainable.
Global Private Equity in Football: The New Playbook
Serie A isn’t alone. Global capital is increasingly shaping the next chapter of football:
- CVC Capital Partners took stakes in La Liga and Ligue 1’s media rights arms, infusing billions while setting long-term revenue-sharing frameworks.
- The Bundesliga nearly followed suit before fan backlash halted talks.
- Portugal’s Primeira Liga is preparing to centralize rights by 2028 — bundling club-level rights for greater commercial potential.
But unlike past attempts, success now hinges on more than capital. Serie A must offer a cohesive global product, built for digital, direct-to-consumer platforms, and future monetisation through fan engagement, not just broadcasting.
Key Strategic Levers for Serie A’s Global Revival
If Serie A wants to avoid repeating past failures and instead build a commercially robust global brand, here’s what needs to happen:
1. Position Serie A as a Global Entertainment Brand
- Go beyond “football rights” — think docuseries, original storytelling, and behind-the-scenes content.
- Leverage icons (past & present) for lifestyle positioning — from Totti and Pirlo to Lukaku and Leão.
2. Build Tiered Digital Broadcast Products
- Learn from La Liga’s and Formula 1’s DTC experiments — build subscription ecosystems, offer regional-language commentary, and integrate fan interactivity (polls, real-time stats, etc.).
3. Commercial Alignment Across Clubs
- Create a revenue-sharing model that rewards both historic big clubs and emerging performers like Como, Genoa, or Verona.
- Use centralized data to help all clubs localize sponsor activation in overseas markets.
4. Integrate Sustainability & Inclusion as Sponsorship Levers
- Position Serie A as a progressive product — net-zero stadia, gender equality, anti-racism initiatives — making the league more brand-friendly and globally palatable.
5. Geo-Target Growth Markets
- Deploy partnerships, pre-season tours, and grassroots academies in growth markets like India, the Middle East, Southeast Asia, and the U.S. to tie media with fandom.
Bring Strategy, Capital & Creativity Together
At 365247 Consultancy, we specialize in helping rights holders, leagues, investors, and broadcasters navigate the complex intersection of sport, strategy, and capital.
From stakeholder alignment to commercial product design and go-to-market execution, we support sports entities in scaling sustainably in the modern age of digital fan engagement and private equity-driven transformation.
Interested in exploring how to position your league, club, or investment to capitalize on the next wave of sports media rights growth?
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IMAGE: Reuters
