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Bain Capital said to trump CVC bid for stake in Italy’s top football league, could value it at €12bn

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Bain Capital is reportedly attempting to trump CVC Capital’s buyout of a stake in Italian top-flight football league, Serie A, which could value it at about €12bn.

CVC was in talks to buy a 20% stake in Series A for €2bn in May according to the FT, which said Blackstone was also considering a separate offer to lend to clubs attempting to weather the shutdown of global football due to the coronavirus pandemic.

Bain has now offered about €3bn for a 25% stake in Serie A, Bloomberg reported, citing unnamed people it said were familiar with the matter.

Both parties are interested in the league, the fourth-richest in Europe, due to its ownership of its lucrative television rights, it added.

It said Serie A generated revenue of about €2.5bn in the 2018-2019 season, with almost 60% coming from broadcasting.

The move comes just a few months after CVC entered talks with world football governing body FIFA and legendary club side Real Madrid about creating new tournaments to challenge the sport’s top leagues.

Italy’s football league was suspended on March 9 due to the ongoing Covid-19 pandemic.

The league is now set to return in behind-closed-doors matches on June 20, with all of its 124 remaining games to be played out over just 44 days.

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