International

Thai group bids €1b for Milan stake

2015-02-16 14:03
Silvio Berlusconi (File)

Bangkok - A Thai businessman has offered former Italian Prime Minister Silvio Berlusconi €1 billion for a controlling stake in AC Milan, local media reported on Monday.

The offer came from Bee Taechaubol, executive director of Thai Prime Company Limited, a south east Asian private equity group.

Bee is also a co-owner of the Global Legends Series (GLS) Bangkok that features veteran soccer players taking part in charity matches across the region.

The Bangkok Post reported that Bee wanted at least a 50 percent stake in the seven-times European champions but not complete ownership.

Bee was confident of completing a deal for the 18-times Italian champions within a month, the report added. The businessman could not immediately be reached for comment by Reuters.

One of Italian soccer's most prestigious names, Milan have struggled since winning the last of their Serie A titles in 2011.

The club, who employed four different head coaches last year, are 11th in the 20-team standings following a 1-1 draw with Empoli on Sunday. They trail leaders Juventus by 24 points with 15 games to go.

Despite the on-field issues, the club was ranked the 10th richest in world football by Deloitte last month with revenue of $250 million for the 2013-14 season.

If a deal is concluded Milan would follow their great rivals in being bought by south east Asian investors after Indonesian Erick Thohir headed a group which acquired a 70 percent stake in Inter Milan in 2013.

Read more on:    ac milan  |  serie a  |  silvio berlusconi  |  soccer

 

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