Soccer-Deutsche Bank, Citi interested in financing Serie A - sources
Reuters
Published Jan 30, 2023 17:43
Updated Jan 31, 2023 11:56
MILAN (Reuters) - Deutsche Bank (ETR:DBKGn) and Citigroup (NYSE:C) have both separately expressed interest in financing the media business of Italy's top soccer league Serie A, joining rivals such as JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS), two people with knowledge of the matter said.
The 20 clubs that make up Serie A are expected to meet on Feb. 24 to discuss the lenders' proposals, as well as those of various investment funds that have also approached the league to help it develop its media rights business.
Deutsche Bank declined to comment. Citigroup, whose interest in a potential financing deal with Serie A was first reported by Italian daily Il Sole 24 Ore on Tuesday, declined to comment.
One of the sources said Citi had made a preliminary approach with Serie A in November.
Serie A's key media business has drawn interest from JP Morgan and Goldman Sachs, sources told Reuters last week, at a time when Italian clubs are looking at ways to boost their finances as well to improve their competitiveness at a European level.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.