Italian financial paper Milano Finanza has reported that RCS Sport, the company that organises the Giro d’Italia, as well as other Italian cycling events, as well as the Abu Dhabi Tour, is about to be sold in order to help its parent group, the RCS Media Group, clear some of its debt.

As well as the Giro d'Italia, RCS Sport organises Milan-San Remo, Il Lombardia, Tirreno-Adriatico, Strade Bianche, and new races the Dubai Tour and the Abu Dhabi Tour. RCS Sport is also involved in other sports such as basketball, running and football. They are the second biggest race organizer after ASO and there could be huge shifts in power if they are sold.

Milano Finanza report that RCS Media Group are close to being forced to sell the sport division, as well as Unidad Editorial, which publishes sports newspaper Marca. The RCS Sport board will meet today to discuss debts of €440 million.

RCS Sport told Cyclingnews it had no comment to make concerning the reports in Milano Finanza, believing there is no truth to the rumour of selling itself. Based on current turnover and profitability, RCS Sport could be worth an estimated to €80 million, making it a relatively low-cost acquisition.