A group of Serie A teams have asked the president of the league to step down.
Paolo Dal Pino has been called by seven of the league’s 20 clubs to resign, but the dissenting group will need at least one more organization to back the motion. If an eighth team steps in, the issue will be added to an official meeting agenda.
The request follows Dal Pino’s proposed deal with a private consortium that would have taken a 10% stake in the league’s media company for $2 billion. The consortium included private equity groups CVC Capital Partners, Advent International, and Fondo FSI.
The deal needed approval from 14 of 20 teams, but seven voiced their opposition.
“The term sheet submitted to the clubs belonging to the league has not reached a qualified consensus needed for the approval… as things stand, this development opportunity is not viable anymore,” a letter to Dal Pino said in February.
There hasn’t been active work toward the private consortium transaction since then, though Dal Pino remains interested. Now teams are taking a stronger stance, saying there is no longer enough support for the deal to pass.
The most recent letter to Dal Pino, who is also CEO of telecoms group Telit Communications, said his actions regarding the deal “led to the need to represent to you our irrevocable no-confidence with regards to your role, conduct, and management as president of the League.”
Dal Pino was elected as president in January 2020. Last month, the vast majority of Serie A clubs approved a three-year, $2.95 billion broadcast rights deal with DAZN.
