The legal saga involving TKO Group Holdings, its subsidiary IMG, and Italian football clubs has reached an end. Following nearly a decade of regulatory scrutiny and high-stakes litigation in Milan, the parties reached a comprehensive settlement at the end of April 2026 to resolve all outstanding claims related to anti-competitive practices in sports media rights.
The litigation was triggered by a 2017 investigation by the Italian Competition Authority (ICA), which eventually fined IMG €0.3 million for its role in bidding for Serie A and Serie B media rights. While the regulatory fine was modest, it opened the floodgates for private civil litigation from the leagues and their member clubs. By the time of the settlement, the combined financial exposure for the defendants was staggering. The plaintiffs—which included Lega Nazionale Professionisti Serie A and 18 intervening football clubs—asserted damages based on the alleged “lower value” of media rights caused by anti-competitive bidding. The quantified claims included €1.75 billion from Lega Serie A, €554.6 million from initial plaintiffs, and over €800 million from intervening clubs in combined direct damages and lost profits. Additionally, a separate 2022 claim by a single club sought an extra €840.4 million.
While the original claims reached into the billions, the final resolution saw the parties agree to a settlement of €300 million, according to media outlets. This figure was approved by a majority vote at the Serie A League Assembly in mid-April 2026. TKO confirmed that the settlement will be paid directly by a subsidiary of Endeavor Group Holdings, Inc., stemming from Endeavor’s pre-existing indemnification obligations to IMG. This arrangement effectively shields TKO’s direct balance sheet from the brunt of the payout.
The settlement brings an end to a complex legal battle where the Court of Milan issued a pivotal ruling in May 2024. That judgment determined that while individual clubs had a concurrent right to sue, the League itself was only entitled to retain 10% of any aggregate losses, with the remaining 90% belonging to the clubs—a ruling that likely accelerated the push for a collective settlement. For many of the involved clubs, such as AS Roma, the payouts are expected to range between €15 million and €20 million, providing critical liquidity to meet UEFA’s Financial Fair Play requirements before the end of the fiscal year.
Despite the settlement of these specific civil claims, TKO has noted that IMG remains potentially subject to other regulatory actions or third-party claims arising from the same ICA findings. However, the closure of this decade-long dispute represents a major stabilization for the Italian football financial ecosystem and the corporate entities involved.
