JPMorgan Chase is looking to invest up to $1 billion in Italy’s Serie A. This is according to a report by Reuters on Friday. Sources with the outlet have confirmed that the financial company wants to fund the league’s media business in the process.
Teams in the Italian top flight have been informed of the potential move following a written letter to the league office. Officials for each club then, supposedly, attended a meeting about the investment on Thursday.
While an exact figure of the financial backing is not yet determined, JPMorgan is willing to put up between $750 million and $1 billion for Serie A.
European leagues trying to keep up with EPL
It’s been no secret that Serie A has been looking for ways to earn more revenue from media rights. This source of income typically accounts for about half of all revenue for each club in the nation’s top flight. England’s Premier League dominates various annual money charts. Other top European soccer leagues, like Serie A, want to try to close this gap.
Germany’s Bundesliga previously had similar negotiations to sell their media rights. Revealed in October, the German top flight was in talks with five different financial firms over investment into the league. The multi-billion fund is currently on hold, but should finalize in the near future.
JPMorgan among multiple firms interested in Serie A media rights
JPMorgan is not the only US company that has expressed interest in Serie A media rights. The Carlyle Group linked to a Serie A move in the fall of 2022. Apollo Global Management has also thrown their hat into the ring as well. The Italian league will reportedly access the best financial option possible.
News of the possible investment into Serie A comes at an interesting time. Juventus, one of Italy’s most prominent clubs, received a 15-point deduction for financial irregularities. AC Milan, another top team in the country, is under investigation, as well.
PHOTO: IMAGO / Nicolo Campo
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