Bids for the Italian TV rights to Serie A over the next three seasons "did not meet a target on Thursday, in a sign of lukewarm market reception for the sale" amid the coronavirus pandemic. Broadcasting rights are the "main source of revenue for Serie A and are even more important with matches being played in empty stadiums." Serie A aimed to raise €1.15B ($1.4B) per season over the next three years, "seeking an 18% uplift on current agreements." Italy's top pay-tv broadcaster, Sky, as well as DAZN, Eurosport and Mediapro submitted offers. Serie A CEO Luigi De Siervo "did not disclose the value of the offers" but said the minimum target "was not reached."
De Siervo had hinted this week at a "potential bid by Amazon," but the retailer did not make an offer, in a blow to the league's "hopes of boosting the value of the rights sale" (REUTERS, 1/28).
On February 5, Serie A will begin negotiations with the bidders. If their offers "do not satisfy Serie A, the league could negotiate with independent intermediaries," or as a last resort, failed negotiations could open the door to the creation of a new Serie A channel, "for which Sky has already presented a proposal" (PALCO23, 1/28).
