Two top media companies have reportedly raised their bids for the media rights to Serie A — but the figures still fall short of the initial $1 billion-plus annual goal set by Italy’s top soccer league.
DAZN and Comcast-owned Sky Italia submitted offers that would pay Serie A $4.75 billion over five years, or about $950 million a year, according to Bloomberg. DAZN would pay about $740 million per season, while Sky Italia would would about $211 million annually.
In July, Serie A decided to delay a decision on its next media rights contracts — which would begin with the 2024-25 season — because the bids fell short of a combined $1 billion a year. MediaForEurope also initially bid for Serie A rights along with DAZN and Sky Italia.
For now, it’s unclear if Serie A will accept the bids or look to delay the process even further in an effort to potentially stoke more interest from other broadcasters.
Serie A most recently ranked fourth in revenue generation among Europe’s top five soccer leagues.
Juventus, the Italian league’s winningest club in history, is dealing with its own revenue issues and a Financial Fair Play penalty. Meanwhile, AC Milan and Inter Milan were forced to abandon plans for a new joint $1.3 billion stadium.