With Serie A’s revenues criticized in the wake of the Juventus scandal and a looming global pandemic continuing to strain the Italian top flight, a glint of hope appears on the horizon. On Friday, the American investment bank JPMorgan Chase & Co. offered a potential windfall with a proposal to invest up to $1 billion in Serie A.

The potential ground-breaking deal is among several proposals that have been discussed by club executives in a private meeting. Although the European competition has lagged behind rivals such as the Premier League and LaLiga in terms of income generated from television broadcasting deals, Serie A clubs are hoping to adopt a meaningful investment structure that can revive their global appeal.

For the American offer to become a real possibility, clubs must agree to create a Serie A media subsidiary, facilitated through the consideration of the investment by JPMorgan. The clubs anticipate making their decision at a February 24th meeting, where they will also discuss their strategies to sell the 2024 broadcasting rights.

With Italian football struggling to compete with the Europan elite, Serie A clubs are cautiously optimistic that they may have found a savior in JPMorgan Chase & Co. With the potential to invest a record-breaking amount, the Italian top flight may soon be able to generate the revenue it needs to compete at a world-class level.