JPMorgan may fund Series A of 1 billion

JPMorgan Chase & Co. was interested in A series. The interest of the US bank is not the only one, because it competes with several funds that fight for the same goal. The Italian competition is preparing to hold a tender to sell the national and international broadcast licenses for the seasons after 2024.

Last Thursday the clubs were informed of the interest of the US bank and now they have to analyze the profitability of the business. JPMorgan is expected to provide between €700 million and €1 billion in funding to the bankaccording to one of the people, who spoke on condition of anonymity because the talks were not public and both JPMorgan and the competition declined to comment.

Serie A knows that its audiovisual rights represent 50% of its clubs’ revenue You are looking for options to extract the maximum amount of income possible.

So far the premier league has the best contract and the other leagues are looking for ways to increase their attractiveness to meet the English competition, which is further away from the others.

In 2021, JPMorgan support football clubs that want to be part of the Super Leaguebut the plan failed because fans and politicians opposed the new competition.

Among the various options Serie A is considering is the creation of a media unit, which could pave the way for outside investors to acquire a stake in the business.

Apollo’s interest

After the failure of previous attempts by investment funds to reach an agreement with Serie A on its media business, Searchlight Capital, along with a group of funds led by Carlyle Group Inc, has expressed interest in buying the broadcast rights by the end of 2022..

expected that the clubs will meet on February 24 to discuss JPMorgan’s strategies and the funds and may hire a financial advisor. Before the meeting, the clubs plan to discuss the process of selling audiovisual rights in mid-February.

For any decision, the approval of a significant majority of the representatives of the clubs is required.which has been an obstacle in the past to reach agreements with potential investors.

Interest in the competition comes at a delicate moment as Juventusthe most important club in the competition in terms of titles, is being investigated by the prosecution for his financial accounts. Italian soccer authorities deducted 15 points last week. However, ‘Juve’ denied that he had committed any crime.