Oaktree Bids €1 Billion to Fund Italian Soccer League TV Channel

Oaktree Capital Management made a €1billion-plus bid to back a new TV service run by Italy’s Serie A soccer league, people with knowledge of the matter said, opening the door for a major European sport to broadcast its own live matches for the first time.

Oaktree sent a letter to Serie A officials this week offering a so-called guaranteed minimum investment of about €1 billion ($1.05 billion) as part of a multiyear deal, according to the people, who asked not to be identified because the overture isn’t public.

Serie A has tried to auction future TV rights, but bids have ...