Italy’s billionaire former prime minister Silvio Berlusconi on Tuesday said he was ready to sell AC Milan to a Chinese investor as long as 400 million euros (US$441.92 million) were invested in the struggling Serie A giants over two years.
“I gave up all claims to the price, I accepted what was offered to me, which does not even take into account the importance of the brand,” Berlusconi said.
The 79-year-old media mogul did not name the investor, but said it was a “Chinese company with public capital.”
“I demanded the new owners commit to invest at least 400 million euros in AC Milan over the next two years,” he told reporters on his release from hospital after open-heart surgery.
He had initially hoped to keep the fallen seven-time European champions “in Italian hands,” but in May, the club said Berlusconi’s holding compan,y Fininvest, had begun serious negotiations with a Chinese consortium.
Italian media speculated that the buyer could be Jack Ma, one of the wealthiest men in the world and founder of Chinese e-commerce giant Alibaba, or real-estate group Evergrande Real Estate, which already owns a majority stake in Chinese club Guangzhou Evergrande.
Berlusconi bought AC Milan in 1986, saving it from bankruptcy.
“I’ve been here for 30 years, but in the last four years ... I’ve had to deal with other worries,” he said, referring to legal woes, including a conviction for tax fraud. “I have not followed Milan as closely as in the past and I now want to close this 30-year period, in which we’ve won 28 trophies. I believe this final decision is important, to hand Milan over to those able to make it a key player once more in Italy, Europe and the world.”
The takeover would see AC Milan become the second Milan club, after Inter, to be sold to Asian owners. Inter was taken over by Indonesian businessman Erick Thohir in November 2014.
Rossoneri fans will watch cautiously from the sidelines to see what transpires from the latest chapter in a prolonged epic about the club and its likely future direction.
In June last year, it was announced Thai businessman Bee Taechaubol would purchase a 48 percent stake in Milan, although the deal came to nothing after he reportedly failed to collect the necessary funds.
‘CRIMINAL ACT’: The UCI said it ‘strongly condemns’ Dylan Groenewegen’s ‘dangerous behavior,’ which left Jakobsen in critical condition and injured other cyclists Dutch cyclist Fabio Jakobsen was in a coma on Wednesday, in “serious” condition, after he was thrown into and over a barrier at 80kph in the conclusion to the opening stage of the Tour de Pologne. Footage showed 23-year-old Jakobsen, of the Deceuninck-Quick-Step, racing elbow-to-elbow with fellow Dutchman Dylan Groenewegen of Jumbo-Visma as both men frantically tussled in a tight sprint to the line in Katowice. However, Jakobsen came off worst, somersaulting over the barriers before colliding with a photographer after Groenewegen had veered suddenly to the right, squeezing his rival into the security wall. “His condition is very serious. His life is
Growing concern over health standards in e-sports has prompted a new federation to pledge to address the problem, as players fall victim to conditions ranging from wrist injuries to obesity, stress and diabetes. The retirement of top Chinese player Jian Zihao, better known by his gaming handle “Uzi,” sent tremors through the booming sport, whose revenues are predicted to reach US$1.1 billion this year, according to industry analyst Newzoo. The 23-year-old, hailed as an “icon” of the League of Legends game, stepped away from e-sports in June, saying that “chronic stress, obesity, irregular diet, staying up late and other reasons” had given
WEEKEND MATCHES: While Tatung FC made good on their chances early on, Taiwan Steel rallied to win the game 2-3 and move to the top with Taichung Futuro Sunday’s action saw Taichung Futuro, Taipower FC and Taiwan Steel tied for first place on 30 points in the Taiwan Football Premier League, while Hang Yuan FC picked up a point to take the No. 4 spot on 25 points after holding Taipower to a scoreless draw. In Taoyuan, Tatung FC hosted Taiwan Steel. It was an exciting matchup, as the visitors rallied from 2-0 down to take the game with three goals. Tatung made good on their chances early on. Honduran midfielder Elias Argueta opened the account 15 minutes into the game with a low shot from the right. Three minutes
Ronnie O’Sullivan delivered a scathing attack on the next generation of snooker players after he made the quarter-finals of the World Snooker Championship on Sunday, ending Chinese star Ding Junhui’s world championship dream. The mercurial 44-year-old Englishman won an enthralling high-quality second-round encounter 13-10 to set up a quarter-final clash with three-time champion Mark Williams. When asked by the BBC whether he thought he would remain at the top of the game for this long, the Briton, who turned professional in 1992, said the poor quality of younger players had secured his position and that something drastic would have to happen