By Mark Baber
April 13: A report by the Chinese Xinhua news agency, quoting the vice-president of the Italy-China Chamber of Commerce, has ignited a new bout of media speculation about the future ownership of Italy’s AC Milan.
Xinhua quotes Fu Yixiang, vice president of the Italy-China Chamber of Commerce, as saying five companies have been linked to a possible take-over of the club of which “four are based in China – beverage maker Wahaha, real estate developer Wanda, telecommunications giants Huawei and e-commerce magnate Alibaba, and the other interested is a Thai company.”
To date none have been willing to pay the €1 billion price tag on their own.
An American consortium has also been linked to a possible take-over, but Fu suggests a way for the Chinese acquisition is being found: “A crowdfunding move is under way in China.
“A consortium formed by several big companies will pay half of the €1 billion and the other half will be raised through crowdfunding with one share expected to cost no more than 10,000 yuan (about 1,600 US dollars).”
According to Fu it is “no secret” that Italy’s ex-Prime Minister Silvio Berlusconi wants to sell the club, but there are disputes within the family about whether to sell up before or after a new stadium is built.
Whilst there is little doubt that Berlusconi’s power has taken a big hit, particularly due to his loss of political position and conviction for tax fraud (which has led to his company Fininvest being ordered to sell a 20% stake in Mediolanum), there is little solid evidence that he intends to sell up.
However, it does appear, with AC Milan languishing in eighth place in the table 28 points behind leaders Juventus, the Berlusconis are looking for investors to stump up some much-needed cash for new players and the new stadium.
Last month a similar bout of media speculation led to the issuing of a statement by Fininvest that “various individuals have shown an interest in a partnership with Milan, but the proposition exclusively relates to a possible minority participation. Fininvest is, indeed, not interested in relinquishing control of the football club.”
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