Italy’s top flight Serie A soccer league should follow the example of Spain’s LaLiga and open up to private equity investors to mend clubs’ finances ravaged by the pandemic, the new U.S. owner of Serie A club Genoa CFC has said.
Earlier this year, Spain’s top league soccer clubs backed private equity firm CVC’s proposed investment in LaLiga, in a deal aimed at strengthening clubs and give them funds to spend on new infrastructure and modernisation projects.
In Italy, drawn-out negotiations between Serie A and private equity firms CVC and Advent for a stake in a new company housing the league’s media rights have collapsed without a deal. “Maybe the CVC-LaLiga deal is the best way to do it, maybe not … I think it’s definitely worth considering it,” Juan Arciniegas, managing director at U.S. firm 777 Partners, told Reuters, adding there could be many ways to structure a partnership.
Read more/Source: Reuters
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