Berlusconi to sell AC Milan to the Chinese
AC Milan are about to have new owners, a consortium from China, a country where there is money being thrown at a football. It is another of the world's untapped markets.
AC Milan will have their debts wiped out in a £433 million (550m EUR - US$624.33m), although how much of the club that buys is unclear. reports suggest it may be a 70% takeover from current owner Silvio Berlusconi, who it is said wants to retain an element for pride. Sound like the Berlusconi we hear about in the UK. He will remain as Honorary President and the Berlusconi Cup will remain.
The club pay more rent to the municipal council to share their stadium with Inter Milan than West Ham are paying to rent the Olympic Stadium so quite why Karren Brady told the House of Lords Select Committee that nobody was successfully sharing a stadium is a mystery, it certainly wasn't accurate, but then none of her answers were.
Milan have the highest season ticket prices in Europe £4,078 (5,177 EUR - US$5,877) and are according to Forbes latest estimates, the 12th most valuable club in the world. The club wants to climb back to the top of Italian football and needs greater investment to do so. The Italian league is at the moment a one-team league with Juventus having won the title for the last 5 seasons.
The AC Milan brand is stronger than that of Inter Milan so with investment and the right marketing there is no reason why the club can't climb back into the UEFA Champions League and overtake the teams that have now overtaken them, like Napoli and Porto.
They will be one to keep an eye on in the coming years.
AC Milan will have their debts wiped out in a £433 million (550m EUR - US$624.33m), although how much of the club that buys is unclear. reports suggest it may be a 70% takeover from current owner Silvio Berlusconi, who it is said wants to retain an element for pride. Sound like the Berlusconi we hear about in the UK. He will remain as Honorary President and the Berlusconi Cup will remain.
The club pay more rent to the municipal council to share their stadium with Inter Milan than West Ham are paying to rent the Olympic Stadium so quite why Karren Brady told the House of Lords Select Committee that nobody was successfully sharing a stadium is a mystery, it certainly wasn't accurate, but then none of her answers were.
Milan have the highest season ticket prices in Europe £4,078 (5,177 EUR - US$5,877) and are according to Forbes latest estimates, the 12th most valuable club in the world. The club wants to climb back to the top of Italian football and needs greater investment to do so. The Italian league is at the moment a one-team league with Juventus having won the title for the last 5 seasons.
The AC Milan brand is stronger than that of Inter Milan so with investment and the right marketing there is no reason why the club can't climb back into the UEFA Champions League and overtake the teams that have now overtaken them, like Napoli and Porto.
They will be one to keep an eye on in the coming years.
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