AC Milan President Silvio Berlusconi is reportedly considering a €700m offer from a Chinese-American group to take over the club.
According to Il Giornale, as reported by Football Italia, the group is rumoured to be headed by Robin Li, who is regarded as the sixth wealthiest man in China.
With Galatioto Sports Group acting as advisers, the report claims that after an evaluation of the club’s finances, the group are willing to make an immediate payment of €700m to take over the club.
It is suggested that the group would take 70 per cent of the shares, leaving the remaining 30 per cent to the current ownership until December when more negotiations will take place.
However, the deal will of course not be given the go-ahead without Berlusconi’s consent, and the former Italian PM is keen to spend time assessing the group’s financial solidity and background before handing the club over.
Given that Berlusconi has previously been against surrendering a majority share in the club, it remains to be seen how accurate the reports are and whether or not he has had a change of heart and is now willing to part company with such a significant stake.
Nevertheless, with a lack of progress in talks and negotiations with wealthy Thai businessman Bee Taechaubol who had been linked with investing in the club as long ago as last summer, the new group would be a welcome addition.
The Rossoneri’s struggles on the pitch in recent years have been attributed to the lack of investment from Berlusconi, and the mismanagement from the hierarchy in the transfer market in particular.
That in turn has cost Massimiliano Allegri, Clarence Seedorf, Filippo Inzaghi and Sinisa Mihajlovic their job, although that group of coaches and the players will have to share the responsibility for Milan’s failures too.
Nevertheless, with the potential of added investment from the group, it would be a huge boost for the club’s financial state and could possibly lead to increased financial backing in the transfer market.
As noted above, it remains to be seen if Berlusconi is willing to give up such a large stake, but many supporters will argue that the time is right for the takeover in order to ensure that Milan are in a position to restore their past glories.