Milan, January 26 (Reuters) – JP Morgan JPM.N has sent a letter to Italy’s top soccer league, expressing preliminary interest in helping develop Serie A’s media business, three people familiar with the matter said.
The 20 clubs that make up Serie A were alerted of interest by US banks at a closed-door meeting of top executives on Thursday, sources said.
JPMorgan expects to provide between 700 million euros and 1 billion euros in bank loans, said one of the people, who asked not to be named.
The person said the rights would serve as collateral to back JPMorgan’s funding, which neither JPMorgan nor Serie A declined to comment on.
(Reporting by Elvira Pollina; additional reporting and writing by Valentina Za; editing by Alvise Armellini)
((valentina.za@thomsonreuters.com; +39 02 6612 9526;))
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