Chinese drinks maker Hangzhou Wahaha Group Chair Zong Qinghou has "knocked back reports he is planning a bid" for "struggling" Serie A club AC Milan, currently controlled by former Italian PM Silvio Berlusconi, according to Wong & Jourdan of REUTERS. Zong, worth an estimated $19B according to the latest annual Hurun rich list, said that reports in Italian media that he was planning to purchase up to 75% of the Italian team were "sheer fiction." Zong said, "We have no intention of getting into the soccer sphere, and have not made any contact with AC Milan." Speculation has swirled around the Italian club, "one of the country's most prestigious teams, but which has struggled since last winning a league title" in '11. Thai businessman Bee Taechaubol said in February that he had held "cordial and private" discussions with the club, prompting Berlusconi to respond that he was "not interested in selling his controlling stake." China's billionaires have been "starting to snap up sporting assets outside the country's borders." Zong, however, said Wahaha would "prefer to look within China's borders rather than overseas." He said, "Even if we wanted to buy a soccer club, we would only consider a domestic team" (REUTERS, 4/2).
