Serie A has a new partner with TV rights. The management of the Italian championship have reached an agreement with CVC.
Italian Serie A has reached an agreement with consulting firm CVC Capital Partners on TV rights management.
CVC, along with Advent International and Fsi, has offered € 1.6 billion in exchange for 10 per cent of Serie A TV rights. In return, the company will become a member of the league union and work with them to develop the league.
Also, according to reports, CVC will receive 1.1 billion euros in advance. In addition, Serie A will be eligible to acquire a stake in the company in the coming years.
It is known that the mentioned decision was supported by 15 clubs of the highest division of the Italian championship, while the other five abstained.
Recall that in 2005 CVC Capital Partners acquired a controlling stake in Formula One Group from the owner of Formula 1 and helped the leading motorsport develop the racing series.
In 2016, CVC sold the Formula 1 leadership and left and shares.