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Italian Media Reports That AC Milan Was To Be Sold 'Swiftly Rejected'

Reports in Thursday's La Gazzetta dello Sport claimed that Singapore-based businessman Peter Lim "had tabled" a €500M offer for Serie A side AC Milan, according to Ben Gladwell of ESPN. This "was swiftly rejected" by Fininvest, the company owned by honorary club president and former Italian Prime Minister Silvio Berlusconi. A statement released on AC Milan's website said, "In reference to the rumours reported by the press, Fininvest once again denies any possibility of the control of Milan being relinquished." The denial "does not rule out the possibility of Lim acquiring a significant stake in the club." Fininvest last month "made a cash injection to cover an operating loss and fresh funds, without constituting a takeover, would be welcomed." According to La Gazzetta, Barbara Berlusconi, who is responsible for the club's commercial and marketing activities, "is in talks with Chinese billionaire Zong Quinghou about investing in the club," as long as Berlusconi Sr.'s Fininvest "keeps hold of a 51 percent controlling stake" (ESPN, 4/24).

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