(Bloomberg) -- Apollo Global Management Inc. is in talks with Mexico’s soccer league to finance an initiative that would help sell the league’s television rights.
The deal isn’t finalized, two people familiar with the negotiations said, asking to to not be identified because they weren’t authorized to speak publicly.
In Mexico, soccer teams negotiate their own TV deals individually, leading to a fragmented experience for viewers who frequently have to subscribe to multiple platforms or streaming services. The deal would see major soccer teams form a company that would negotiate rights as a group.
Emilio Azcarraga, owner of Mexico City’s Club America team, said in an interview with Bloomberg in June that negotiating as a group would be smart, but that the deal would have to make sense for the larger clubs that attract more viewers.
Heraldo de Mexico columnist Dario Celis reported earlier on Apollo’s interest.
In Brazil, the majority of top professional clubs signed a $500 million deal in 2023 under which two companies purchased a 20% stake in the commercial rights of the participating teams.
The deal was supposed to have been signed last week, one of the people said, but the owner of one team unexpectedly backed out. The remaining teams are still in talks with Apollo and a deal might be finalized early next year, the person said.
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