January 26, 2018 / 5:17 PM / a year ago

UPDATE 1-Bids for TV rights to Italy's Serie A matches fail to reach minimum in private sale

(Adds next step for failed sale in paragraph 5)

MILAN, Jan 26 (Reuters) - Offers for rights to broadcast Italy’s Serie A soccer matches for the 2018-2021 seasons totaled 830 million euros ($1.03 billion) at a private sale on Friday, below a minimum threshold set for the deal, a source close to the matter said.

Italy’s soccer authorities have set the lower limit at 1.05 billion euros. Three years ago the same rights were sold for 950 million euros.

At the official auction on Monday, the highest bids for the various packages - presented by Italian broadcaster Mediaset and Sky Italia - amounted to just under 800 million euros.

Italy’s Serie A soccer league said in a separate statement that the procedure has been concluded with no packages assigned.

The league will now look at an offer presented by Spanish intermediate broker Mediapro, which, according to a source, was willing to spend up to 990 million euros to buy all the rights and then distribute them to third parties. ($1 = 0.8051 euros) (Reporting by Elvira Pollina, editing by Paola Arosio and Crispian Balmer)

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