Apax Revives Interest in Italy’s Top-Flight Soccer League

Apax Partners has renewed its interest in investing in Serie A, which has suffered significant financial losses due to the global pandemic and underinvestment, per Bloomberg. 

Italy’s top-flight soccer league was shopping a $1.9 billion stake in its new media rights company in August to Advent International, CVC Capital Partners, and Italy-based private equity firm FSI. 

Apax also considered investing in Serie A last year with Three Hill Capital Partners before Advent and CVC became more attractive suitors. 

Apax is partnering with other potential investors to develop a proposal to present to Serie A in 2022. The plan is to inject fresh capital into Serie A’s clubs, some of which have reported significant losses over the past year. 

• AS Roma reported a team-record loss of $216 million for the 2021-21 fiscal year.
• Genoa, Italy’s oldest soccer team, saw a $38 million loss in 2020.
• Juventus reported a $246.6 million loss during the 2021-21 financial year.
• Inter Milan won a 19th Serie A title in May but took a $284.6 million hit in FY2021.
• For the financial year ending June 30, AC Milan suffered a $111.8 million loss. 

Any deal between Apax and Serie A would require approval by club presidents.