By Tom Degun
October 15 – Italian giants AC Milan have been forced to deny reports that they plan to sell stakes in the club to the Qatar sovereign wealth fund as speculation continues to grow over Silvio Berlusconi’s ownership of the club.
Reports in the Italian news claim the country’s former Prime Minister (pictured top) was considering selling a 30 per cent stake in Milan for £200 million ($322 million/€250 million) to secure finances that could help the club pursue plans for a new stadium or redevelop the San Siro.
There are also rumours that Qatar were weighing up a partnership between satellite news network Al Jazeera and Berlusconi’s Mediaset media group but Milan vice-chairman Adriano Galliani has denied the reports.
“There is no truth in it,” Galliani said.
The latest reports come after confectionery giant Ferrero last month moved to deny claims that owner Michele Ferrero was in talks to launch a takeover of Milan.
The Italian media reported that Ferrero, who is Italy’s richest man with a fortune estimated at £15 billion ($24 billion/€19 billion), had already examined Milan’s finances and was close to making an offer for the club.
Earlier this year, Berlusconi stated the club is entering a new financially prudent period and hinted that it could be open to foreign investment.
The summer sale of star players Zlatan Ibrahimović and Thiago Silva to Qatar-owned Paris Saint Germain prompted protests from the club’s fans, some of whom demanded refunds on their season tickets.
Milan have been repeatedly linked with a change of ownership in recent years and saw their city rivals Internazionale, who they share the San Siro (pictured above) with, secure major investment of its own over the summer.
Inter sealed an agreement that will see a Chinese consortium secure a significant stake in the club, while a partnership was agreed to develop a new stadium in association with China Railway Construction Corporation away from the San Siro.
The deal sees the Moratti family retain control of the club with the Chinese investors becoming its second largest shareholder.
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