off-the-wire

Deutsche Bank, Citi interested in financing Serie A - sources

Kitco Media
By Reuters
Published:
Updated:
Reuters

MILAN, Jan 31 (Reuters) - Deutsche Bank (DBKGn.DE) and Citigroup (C.N) have both separately expressed interest in financing the media business of Italy's top soccer league Serie A, joining rivals such as JPMorgan (JPM.N) and Goldman Sachs (GS.N), 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.

Reporting by Elvira Pollina and Valentina Za Editing by Keith Weir
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