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Serie A Agrees Sale of $2 Billion Stake to CVC and Advent

  • Buyout firms will take a slice of Italian league’s TV rights
  • Serie A is home to soccer players including Cristiano Ronaldo
AC Milan’s Zlatan Ibrahimovic scores on a penalty kick during the Italian Serie A football match on Sept. 21.
AC Milan’s Zlatan Ibrahimovic scores on a penalty kick during the Italian Serie A football match on Sept. 21.Photographer: Miguel Medina/AFP/Getty Images
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CVC Capital Partners and Advent International have agreed to acquire a stake in a new media unit being created by Italy’s Serie A soccer league.

Serie A’s board unanimously approved a deal on Thursday. CVC and Advent will pay 1.7 billion euros ($2 billion) for 10% of the new company that will manage the league’s TV rights. Italy’s FSI fund is also part of the consortium.