Oaktree is preparing to submit a binding offer for a minority stake in the company that will own and manage Serie A’s international media rights, according to British media reports.
The fund, owned by Blackstone, is expected to bid alongside several other major private equity groups as Serie A seeks investors for the business. The deadline for final proposals is Friday, 4 September.
Carlyle, Bain, Nexitalia and Oaktree are among the institutions competing for a stake in the company. Serie A is expected to receive between three and four offers before the bidding process closes.
The fund owned by Internazionale’s parent company is also understood to be among the institutions preparing an offer.
Investors have been asked to bid for between 10% and 20% of the media rights business, according to Reuters, which cited sources familiar with the process.
The company being created to hold and manage Serie A’s international broadcasting rights is expected to have an overall valuation of between €3bn and €4bn. It is forecast to generate approximately €250m in annual revenue and about €200m in operating profit each year.
The proposed investment would therefore give private equity firms the opportunity to acquire a minority holding in a business built around Serie A’s international media rights, while the league continues to assess the offers submitted by potential investors.
Oaktree’s inclusion adds to a field of established global financial institutions involved in the process. Carlyle and Bain are also preparing bids, while Nexitalia is among the other groups competing for a stake.
Serie A is ultimately expected to select three or four proposals from the offers submitted by the deadline. The bids will be assessed in relation to the minority stake available and the expected value of the company, which is projected to be in the €3bn-€4bn range.
The identity of the successful investors and the precise size of any stake sold will depend on the outcome of the bidding process. Investors are currently being invited to propose deals covering between 10% and 20% of the company.
The process comes as Serie A seeks to establish a dedicated business to hold and manage its international media rights. Those rights are expected to provide the company with approximately €250m in revenue and around €200m in operating profit annually.
The deadline for binding offers is 4 September. Between three and four final proposals are expected to be received by Serie A.
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