Report Claims AC Milan Weighing Sale As Lazard Contacts Possible Buyers
Serie A side AC Milan, owned by former Italian PM Silvio Berlusconi, "is weighing a sale," according to Alesci & Soshnick of BLOOMBERG. Citing "three people with knowledge of the matter," Alesci & Soshnick noted Lazard Ltd. "has sent marketing documents to potential buyers." A spokesperson for Berlusconi’s Fininvest SpA, which controls AC Milan, said that "the team isn’t for sale." The spokesperson "asked not to be identified." Lazard spokesperson Judi Mackey "didn’t immediately return a call seeking comment." N.Y.-based sports advisory firm Galatioto Sports Partners Founder Sal Galatioto said, “It’s an absolutely great brand.” AC Milan, valued at $945M by Forbes Magazine, is 10th in Italy’s top division. Milan trails European competitors in game-day revenue because the San Siro, the 88-year-old stadium it shares with Inter, "doesn’t have the money-making amenities of newer facilities, said Galatioto, who said he expects potential buyers to come from Asia." The team’s revenue rose to €264M ($361M), according to accounting firm Deloitte’s sports business group (BLOOMBERG, 3/5).