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SBD Global/March 7, 2014/Franchises

AC Milan Holding Company Fininvest Calls Sale Reports 'Totally Unfounded'

AC Milan holding company Fininvest said that the club "is not for sale," according to Ben Gladwell of ESPN. Bloomberg reported on Wednesday that Lazard Ltd., which "recently brokered the sale of Inter Milan from Massimo Moratti to Erick Thohir, had been appointed by Milan to seek out potential investors." The club, valued by Forbes at $945M, is "reported to have given Lazard investment information to be passed on to interested parties." Fininvest "immediately denied the report." The official statement read, "Despite the numerous denials, rumours of a possible sale of Milan continue to circulate. Fininvest reaffirms once again that these rumours are totally unfounded" (ESPN, 3/6).
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