China company Alibaba revealed as group interested in buying majority stake in AC Milan

27 April at 17:20
China company Alibaba are the group which are interested in acquiring a majority stake in AC Milan, Repubblica.it has reported.

According to the Italian website, the Chinese company owned by Mr. Jack Ma (the second richest man in China and owner of Super League giants Guangzhou Evergrande), would acquire a 70% stake before June before assuming full control of the club in one year time.

Marcello Lippi is involved in negotiation too as the former Guangzhou Evergrande boss is on good terms with both Mr. Ma and Mr. Berlusconi and he’s rumoured to be offered a job as technical director, should the Chinese group close the deal.

Trouble is, Mr. Ma has offered a total €500 million to seal takeover of the club, exactly half of what Mr. Bee had offered less than one year ago.

As previously reported, former Lehman Brothers banker Salvatore Galatiolo is the American middle-man who had presented Berlusconi Alibaba’s offer.

The name of Alibaba had never been disclosed before this morning, when La Repubblica revealed the details of negotiations.

Silvio Berlusconi’s group Fininvest has already given thumbs up, now it is only up to him to decide whether to sell AC Milan after 30 years of presidency or not.

Lorenzo Bettoni @lorebetto
 

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