MILAN (Reuters) – JPMorgan has written to Italy’s top soccer league to express a preliminary interest in supporting the development of Serie A’s media business, three people close to the matter said.
The sources said the 20 clubs which comprise Serie A were informed of the interest by the U.S. bank at a closed-door meeting of their top executives on Thursday.
JPMorgan is expected to be able to provide between 700 million and 1 billion euros in bank financing, one of the people said speaking on condition of anonymity because discussions are not public.
The person said the rights would be the collateral backing JPMorgan’s financing. JPMorgan and Serie A both declined to comment.
(Reporting by Elvira Pollina; Additional reporting and writing by Valentina Za; Editing by Alvise Armellini)
