Cristiano Ronaldo's agent Jorge Mendes is reportedly "part of the latest syndicate to have launched a bid for AC Milan," according to Ben Gladwell of ESPN.com. Milan has been up for sale for over a year now, "with two takeover bids effectively failing." Thai businessman Bee Taechaubol was the "first to enter into negotiations -- and actually sign an agreement" -- with current President Silvio Berlusconi in Aug. '15. That move "broke down in October when Berlusconi had a change of heart, but a new Chinese group came forward in January with a bid." The group signed an agreement "allowing it exclusivity in negotiating terms with Berlusconi that expired on Aug. 1, without any resolution." According to La Gazzetta dello Sport, Guo Guangchang, whose Fosun Group last week acquired League Championship side Wolverhampton Wanderers, is "heading a new group of investors that includes Mendes and that could complete a takeover within weeks." La Repubblica reported that the group is "keen on completing a takeover before the Italian national holiday of Aug. 15." La Gazzetta reported that Milan is valued at €700M ($779M). With an estimated revenue of €11.1B ($12.4B), the Fosun Group, which already owns real estate in Milan, "would be able to cover the takeover with its profits from 2015 alone," and still have €400M ($445M) spare (ESPN.com, 8/4).
