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SBD Global/September 23, 2013/Franchises

Serie A Inter Milan Owner Massimo Moratti Denies Agreement To Sell Majority Stake

Serie A side Inter Milan Owner Massimo Moratti "has denied he has reached an agreement to sell a stake" worth almost €300M ($406M) in the Italian club to Indonesian billionaire Erick Thohir, according to the BBC. Moratti has been in talks with Thohir, "part owner" of Major League Soccer club D.C. United and the NBA Philadelphia 76ers, for several months. Moratti said it "could be another month until a deal is completed." Moratti confirmed he has recently met with Thohir and "other potential Indonesian investors and admitted progress has been made on the deal." Moratti: "It was an opportunity to get to know each other a bit better and also to meet the people who could come on board with Thohir in any agreement" (BBC, 9/20). The FINANCIAL TIMES' Rachel Sanderson reported "Thohir is looking to buy" a 75% stake in the club for around €300M (FT, 9/20).

MORATTI TO STEP ASIDE: ESPN's Ben Gladwell reported Moratti has revealed that he will "bring his 18-year spell as Inter Milan president to an end" once Thohir has signed a deal to "take control of the club" (ESPN, 9/20).
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