MILAN/LONDON (Reuters) -Italy's Serie A soccer league is exploring options for its international media rights, including the sale of a stake to external investors and a long-term strategic partnership with a sports media agency, three sources with direct knowledge of the matter told Reuters.

Like other major European leagues, Serie A, home to AC Milan and Juventus, has struggled in recent years to sell its media rights abroad, as broadcasters across the globe have shown diminished interest partly due to a crowded fixture list dominated by the expanded UEFA Champions League and the popularity of England's Premier League.

Serie A, comprising 20 clubs - many under U.S. ownership - has tasked JP Morgan with reviewing a range of options for its international media rights, the sources said.

Under the existing contracts, the Italian league earns around 250 million euros ($292.9 million) annually from its international media rights, a fraction compared to the English Premier League's overseas income.

Options JP Morgan are reviewing include establishing a dedicated media unit and selling a minority stake to private equity firms.

It is also exploring long-term partnerships with data-driven sports media agencies, including Peak and IRIS, to enhance Serie A's ability to improve its reach abroad, they added, declining to be named because discussions are not public. 

JP Morgan is expected to present the results of its analysis to the Italian clubs at the end of the year. 

Serie A and JP Morgan declined to comment. Peak and IRIS were not immediately available to comment.

Italian business daily MF reported this month Serie A appointed JP Morgan as adviser on its international media business, without describing any specific options being considered.

Bloomberg had reported in June that Serie A was considering selling a stake in its overseas media business.

Serie A explored in 2021 the sale of a 10% stake of its more lucrative domestic media business to a consortium led by CVC but the 1.7 billion-euro deal failed to gain the required support from the clubs.

($1 = 0.8537 euros)