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.