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SBD Global/October 16, 2013/Franchises

Inter Milan President To Sell 70% Of Inter Milan To Indonesia Businessmen For $479M

Inter Milan President Massimo Moratti said the sale of the Serie A club is finalized.
Serie A Inter Milan President Massimo Moratti "has reached an agreement" for Indonesian businessman Erick Thohir to "take a majority shareholding" in the club, according to the London GUARDIAN. Moratti said, "Everything has been signed. Satisfied? Yes, this has been a long time, but eventually we have gotten there." Moratti, who has been president and owner of the club since '95, is "believed to be signing over a majority share" of 70% of the club, reportedly worth almost £300M ($479M), to Thohir. The Indonesian is also part owner of the NBA Philadelphia 76ers and MLS DC United. It is unclear whether Moratti "will remain president." Moratti: "That I don't know" (GUARDIAN, 10/15). In London, Sanderson & Aglionby reported the "long-trailed deal" sees Thohir and Indonesian businessmen Rosan Roeslani and Handy Soetedjo take over at Inter Milan. Moratti said that he and his family "would continue as minority investors, but made no mention of whether he would remain" (FINANCIAL TIMES, 10/15). FOOTBALL ITALIA reported Thohir "claimed that he hopes this deal has a 'holy blessing.'" Thohir: "In Indonesia we are celebrating Idul Adha at the moment. I hope this deal has received a blessing on this holy day" (FOOTBALL ITALIA, 10/15). For an official press release, click here. The EFE reported that Moratti's team "had not been successful in a recent period highlighted by a decade ('95-05) without a major championship and a long list of bad decisions." Moratti will "remain involved with the club, but in an uncertain capacity." With Thohir "purchasing 70% of the club, Moratti retains 28.3% of the remaining shares, while 1.6% belong to the Pirelli group and .1% belongs to the club members." Thohir is "hoping to exploit the Inter brand globally, beginning in Indonesia, where there are an estimate of 11 million Inter fans" (EFE, 10/15).
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