La Repubblica reported that Alibaba Founder & Exec Chair Jack Ma, China's second richest man, "is set to buy" AC Milan, according to Matthew Nitch Smith of BUSINESS INSIDER.
Fininvest -- a holding company owned by ex-Italian PM Silvio Berlusconi -- "currently has a 99% stake in the club."
La Repubblica reported that Ma and co-investors "would purchase 70% of Fininvest's shares straight away," then buy the remaining 30% "within a year." Alibaba did not confirm the takeover (BUSINESS INSIDER, 4/27). PROACTIVE INVESTORS reported not only "would a deal be marked as another major acquisition of a European club by rich foreign investors, but also underscore China's growing influence" on the global football scene.
And the apparent sale "comes amid talk that Europe’s elite clubs have considered a lucrative break-away European Super League, to replace the Champions League club competition currently run and marketed by UEFA."
Marcello Lippi, Italy’s former World Cup-winning national coach, "is currently manager of Guangzhou Evergrande though media reports suggest he may return to Italy to oversee AC Milan’s sporting operations should the takeover go ahead" (PROACTIVE INVESTORS, 4/27). FOOTBALL ITALIA reported Milan’s holding company Fininvest denied that Berlusconi has sold the club for €700M ($792M).
Milan News reported it has received a communication from Fininvest "denying the rumours that a sale had taken place."
Pier Silvio Berlusconi, son of the Diavolo chief, "has also denied any knowledge of a sale taking place" (FOOTBALL ITALIA, 4/27).
