Another U.S.-based financial services company has expressed interest in the media arm of Italy’s top soccer league.
Goldman Sachs is reportedly eyeing an investment in financing Serie A’s media business as the league prepares to sell domestic and international media rights in 2024. Last week, JPMorgan Chase & Co. expressed interest in investing up to $1.1 billion in Serie A’s media unit.
- Goldman Sachs has yet to disclose how much it is willing to invest in Serie A.
- The company has reportedly considered an investment since October 2022.
- Private equity firms Searchlight Capital and Apollo Global Management are also considering investments in the media arm.
Goldman Sachs’ potential investment in Serie A follows a plan by the league to spin off an upcoming media unit to boost revenue after the league failed to sell a 10% stake worth $2 billion to three investors in 2021.
Serie A began creating the media unit in October 2022.
Profits from Overseas
Serie A — which generated $2.7 billion in revenue during the 2020-21 season, per Deloitte — is looking to triple its overseas media rights revenue.
The league is set to make $658 million from international media rights from 2021-24.
Serie A is still far behind England’s Premier League, which will make $6.55 billion from overseas rights from 2022-25.