Silvio Berlusconi will "keep control" of AC Milan but could sell a minority stake, his holding company said following talks between the former Italian prime minister and Thai businessman Bee Taechaubol, according to Masoni & Mackenzie of REUTERS. A statement from Fininvest "dismissed growing media speculation in recent months that he could sell a majority stake in Milan." The statement said, "The proposed collaboration, which remains to be defined in many points, foresees the acquisition of a minority stake by a group of investors and that control of the club remains solidly in the hands of President Silvio Berlusconi and Fininvest." Italian media reports said that Taechaubol offered €500M ($560M) for a 51% stake in Milan. The club "won the most recent of its 18 Serie A championships" in '11, "racked up debts" of €250M and made a loss of €91M last year. Neither Berlusconi nor Taechaubol "offered any indication of how long it could take to wrap up a deal." As well as Milan, speculation has grown that Taechaubol "may sell his Mediaset television group's pay TV operation" (REUTERS, 5/2). REUTERS' Skulpichetrat & Jittapong wrote Taechaubol is "planning a shakeup" of AC Milan once he becomes a stakeholder, a deal he said that he "had no issues financing and that should be wrapped up this month." Taechaubol "would not be drawn on details of a deal long shrouded in secrecy but said money was 'not a problem'" and talks with Berlusconi were going well. Taechaubol: "We are in negotiations ... the next step will be arranging documents, preparing financial papers and legal procedures." That could be "just what the Rossoneri need" (REUTERS, 5/3).
OTHER PLANS: FOOTBALL ITALIA reported Berlusconi met Richard Lee’s Chinese conglomerate on Sunday, surprising Bee. La Gazzetta dello Sport claimed Berlusconi "had a meeting with Chinese investors, headed by Richard Lee, at his Arcore home." It is "not clear what they were discussing, as it could be a rival bid to buy a minority stake in the club or attempts by Berlusconi to sell different chunks to each side." Taechaubol reportedly "did not know there would be a meeting with the Chinese group and is worried" (FOOTBALL ITALIA, 5/3).
