Italy’s Serie A remains mired in a host of ownership and facility issues but has nevertheless sealed a major piece of its media future with a set of domestic media rights deals worth $4.8 billion.
The country’s top level of pro soccer has completed a five-year pact with DAZN and Comcast-owned Sky Italia, giving the league a crucial financial lifeline amid significant change across international soccer.
DAZN is said to have offered at least $741 million per year for the rights, airing seven matches per week, while Sky Italia will pay another $212 million annually through the 2028-29 season.
The agreements, which approach Serie A’s initial goal of $1 billion per year for the rights, reportedly received support from 17 of its 20 clubs in the league. There’s also a possible $1.06 billion bonus for Serie A if certain subscriber targets are met.
The rights deals provide some stability to a key piece of Serie A revenue as it faces a growing financial gap between itself and other top European leagues, as well as the upstart Saudi Pro League.
Total revenue was just $2.62 billion for the 2021-22 season, slightly more than a third of the comparable figure for England’s Premier League, and projections for the current season are similar.
On a franchise level, Juventus, the Italian league’s winningest club ever, is dealing with its own revenue issues and a Financial Fair Play penalty, while AC Milan and Inter Milan abandoned plans for a shared $1.3 billion stadium.